By NATION AFRICA More by this AuthorKenya's President William Ruto has decried what he termed as an “unfair” framework in the administration of the global financial system, saying the global West continues to disenfranchise Africans by imposing unjust debt repayment policies that are almost unmanageable. His remarks were received with applause from the thousands, including African heads of states, who were gathered at the Tsavo amphitheatre on the second day of the Africa Climate Summit. AdvertisementWhile Africa’s debt debate has become a touchy issue in recent years, it is becoming even louder in the wake of the debilitating effects of climate change. “This is the continent with the highest investment potential,” said President Ruto, who went ahead to note that the high potential is hampered by “high interest rates for development capital. Read: 5 African countries facing risk of debt crisis“How do we get Africa to pay five times more (than the rest)?” he wondered.

Source: Daily Nation September 06, 2023 14:00 UTC