President William Ruto has called out for fairness from multilateral financial institutions while giving out funds to African countries.

The president, who attended the presidential dialogue on global Financial Institutions reforms in Addis Ababa, stated that countries in the Global South access funding from the institutions at a higher cost compared to countries in the Global North.

The head of state has asserted that the reform of the global financial system is a fundamental and urgent Agenda for Africa and the entire global south.

“The reform of the global financial system is an urgent agenda for Africa and, indeed, the entire Global South. These countries access funding from multilateral financial institutions at a much higher cost than others in the Global North,” he stated on X.

Ruto further stated that the allocated funds are not even enough for the implementation of transformative policies and programs.

“Even when they access funding, it is usually not at the scale and level necessary to implement transformative policies and programs,” He stated.

The president has clarified that the call does not aim to align Africa on a special treatment side but is calling out for fairness, especially in these times of need when climate change and other global challenges are at the peak and need immediate intervention.

“Africa is not seeking special treatment; Africa is simply calling for fairness, especially in these times of climate change and other global challenges,” he stated.