President William Ruto now says that African countries are spending more on debt service than any other expenditure.
Speaking on Friday, July 7 during a joint session of the Congolese Parliament in Brazzaville, Ruto argued that the leaders must advocate for reforms in the multinational financial institutions to address the debt crisis in the continent.
"African countries are spending more on debt service than any other expenditure including public services, health, and education. We have reached the point where debt and well being are mutually exclusive and this is a matter of fundamental justice," he said.
President Ruto added that it was unfortunate that African countries have to choose between their development needs and climate action.
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“It is, therefore, clear that if we do not solve the debt issue, it will be impossible to address the climate crisis," Ruto stated.
He has asked African leaders and Parliaments to champion the continent’s development agenda and implement policies and legislations that will unlock Africa’s
The President noted that Africa has the resources and opportunities necessary to drive a clean, just, and inclusive prosperity here and across the world.
“It is the right time to engage Africa’s leaders for the purpose of mobilising a firm African position on issues that are directly connected with our collective aspirations,” the President stated.
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