SEVILLE, SPAIN —
President William Ruto has delivered a forceful plea for global economic fairness, urging world leaders to overhaul international financial institutions and adopt trade rules that work for, not against, Africa’s development.

Speaking at the Fourth Financing for Development Summit (FfD4) on Sunday, Ruto described the moment as “defining” for global cooperation and insisted that Africa was ready to become a serious player on the world economic stage—if only it was given a fair shot.

“Africa’s development is, first and foremost, our responsibility,” said the Kenyan president. “We approach it with purpose and determination. But strong global partnerships remain essential to our success.”

Debt and the Cost of Capital

Ruto’s remarks come as many developing nations grapple with ballooning debt and tightening access to credit. He welcomed growing consensus around building a development-oriented debt architecture, one that views public debt as a tool for progress—not a financial trap.

“Debt must be managed transparently and responsibly,” he said. “But more importantly, borrowing costs must come down. Development cannot happen in a straitjacket.”

Kenya recently co-led an Independent Expert Review on Debt, Nature, and Climate alongside Colombia, France, and Germany. The review, he said, showed that collaborative action can produce meaningful reform.

Calling for Reform of the IMF and Credit Ratings

Ruto joined a growing chorus demanding reforms at the International Monetary Fund, including easier access to emergency financing, better terms for loans, and fairer distribution of Special Drawing Rights (SDRs).

“What was once radical is now becoming mainstream,” he noted, pointing to the outcome document’s support for SDR rechanneling and updated capital adequacy frameworks.

He also questioned how credit rating agencies assess African economies, calling for deeper understanding and the need for an African Credit Rating Agency to balance the narrative.

“High debt premiums can’t be fixed with technical adjustments alone,” he warned. “We must fix the system that penalises Africa for simply trying to grow.”

Green Trade and Climate Inclusion

While emphasising Africa’s central role in the climate agenda, Ruto cautioned that the continent cannot deliver on green commitments if it’s locked out of global trade.

“We cannot deliver if our goods, services, and carbon credits are excluded from global markets,” he said. “Trade rules must reward green production—not punish it.”

Ruto called for shifting the narrative from green premiums—which often raise costs for environmentally friendly products—to green discounts that encourage sustainable production.

A Call to the U.S. and Global Partners

In a pointed remark, Ruto urged the United States to reconsider its reservations on parts of the summit’s consensus document. He also called on all member states to embrace the outcome with full commitment.

“Africa is not asking for favours,” he said. “We are asking for fairness, for true partnership, and for investments.”

The Final Word

Ruto closed his address with a message of resolve and shared responsibility.

“The world’s and Africa’s futures are inseparable,” he said. “Let us walk this path together—with honesty, urgency, and resolve. Kenya certainly will.”

The Seville summit, which has brought together leaders, economists and diplomats from around the world, is expected to shape global financing policy for years to come. Whether it leads to real change—or simply more promises—remains to be seen.