Ruto calls for reforms in global finance, international governance

President William Ruto has called for foundational change in global finance and international governance.

Speaking during the Kenya-European Union Partnership for Multilateralism Summit, at the sidelines of the ongoing United Nations General Assembly in New York City, President Ruto asserted that Africa possesses sufficient domestic savings, but these capital reserves are currently not being effectively utilised for the continent’s development.

He further called for global mutual collaboration, defending African countries from the global question of whether they are facing East or West.

“We are not facing east nor are we facing west; we are facing forward,” he said.

President Ruto also criticised the selective application of international law, emphasising that a sustainable future cannot be written by a few and imposed on others.

Earlier, during a meeting with Dangote Industries President and CEO Aliko Dangote and Africa Finance Corporation (AFC) CEO Samaila Zubairu, President Ruto affirmed that Kenya will on Wednesday next week launch the groundbreaking of the East Africa Refinery in Lamu, a project he says will boost regional energy security and support industrialisation.