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| Ruto in US congress house |
William Ruto is on a four-day state visit to the United States. During his visit, he met with Speaker Mike Johnson at the Capitol in Washington, D.C., on May 22, 2024, days after declining a request for Ruto to address Congress. President William Ruto urged the US Congress to ensure that Kenya does not pay eight times the interest rates compared to other countries. Ruto addressed the US Congress, where he was applauded for outlining plans for Kenya to borrow more money in the future. What did William Ruto say to the Congress? While speaking to Congress, Ruto complained that Kenya borrows at interest rates eight times higher than those of other countries. He urged the American Congress to lead efforts in reforming the international financial architecture, including the IMF, World Bank, and multilateral development banks, to ensure that every country has a fair chance to borrow. “This is so that we can develop our countries and deal with the effects of climate change like floods and drought,” he said. The president further urged Congress to ensure that no country spends more on debt servicing than on basic necessities. ” I was requested to ask the American Congress to double its contribution to IDA the concessional window of the World Bank that makes sure that countries like Kenya can have resources not eight times more expensive but the same as other countries.” His remarks elicited cheers and applause from Congress, with one member shouting that they are already working on Ruto’s requests. “Am glad that you are already working on it,” Ruto said. Ruto says Kenya to start lending Earlier, President William Ruto expressed confidence that Kenya will soon be among the world’s leading economies. During Pastor Benny Hinn’s crusade at Nyayo Stadium on Sunday, February 25, the president acknowledged that the country was experiencing economic challenges. While quoting the bible, Ruto asked Kenyans to remain optimistic that Kenya will one day start lending funds amid rising debt burden. Ruto says he settled Kenya’s debt On January, President William Ruto stated that he’s focus is on accomplishing his development plans for the country. The head of state claimed he had put all his efforts into servicing the country’s debts. Ruto revealed that had he failed to pay off the loans, the country would have been auctioned.
by Faith Chandianya