Kenya’s Ruto Says Debt Restructuring Core for Financial Reforms

Kenyan President William Ruto called for a fairer approach to restructuring the debts of struggling African nations and improved access to concessional lending amid shrinking development aid.

He said 21 countries in the region are already in or are at high risk of debt distress, with average debt service payments consuming 13.5% of government spending at the expense of essential services including healthcare and education.