Kenyan President William Ruto is urging the United States to reconsider its stance against a vital document that outlines global commitments for reforming development finance, which he believes is essential for increasing funding for the Sustainable Development Goals (SDGs).
A known ally of the US, particularly during former President Joe Biden’s tenure, Dr. Ruto made this appeal at the 4th International Conference on Financing for Development (FfD4) held in Seville, Spain, organized by the UN Capital Development Fund (UNCDF) on Monday.
His remarks directly challenge Washington’s firm opposition to the outcome document under discussion.
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Dr. Ruto expressed his support for the Seville Outcome Document, officially titled Compromiso de Sevilla, describing it as “a renewed, if not hard-won, commitment to multilateralism and equitable development.” He hailed the agreement as a significant triumph for Africa, despite the US distancing itself from its contents.
“I urge the United States to rethink its position and call upon other member states with reservations regarding parts of this consensus to fully endorse the outcome document,” Dr. Ruto stated at the forum.
The Seville document is set to be signed by heads of state and government at the conclusion of the FfD4 summit and outlines a new global financing framework. This framework emphasizes domestic resource mobilization, private capital, development cooperation, trade, debt sustainability, and tax transparency.
It also advocates for urgent measures addressing debt and climate change financing, including debt-for-nature swaps, pauses on debt payments during crises, and green levies to fund climate adaptation and mitigation efforts.
“I also welcome the focus on debt, liquidity, and the cost of capital. There is now a consensus on the necessity of a development-oriented sovereign debt architecture, where public debt serves as a tool for development rather than a burden,” Dr. Ruto remarked.
The US was notably absent from the Seville summit, having previously withdrawn from negotiations over the document’s wording, labeling it as “overprescriptive.” This marks the first time the US has skipped this summit.
Last month, Jonathan Shrier, acting US representative to the UN Economic and Social Council, indicated that while America supports international collaboration and long-term development, the draft “crosses many of our red lines.”
Washington objected to proposals that would grant the UN a formal role in restructuring sovereign debt—an area they believe should remain under the purview of the International Monetary Fund and World Bank, where the US holds significant influence. Additionally, the US opposed references to “climate,” “gender equality,” and “sustainability,” arguing that such language does not align with its domestic priorities.
In contrast, President Ruto fully endorsed the document’s key points, viewing them as crucial for Africa’s economic advancement.
“We have finally reached a consensus on reforming the international financial architecture. This outcome document now calls for strengthening global economic governance by enhancing the voice and representation of developing countries within international financial institutions,” he concluded.
Source: The EastAfrican
