President William Ruto of Kenya has renewed the country's call for reforms to the international financial system and the United Nations Security Council. Speaking at the 81st session of the United Nations General Assembly in New York, Ruto emphasized that global institutions must reflect the realities of today's world rather than inequalities inherited from the past. He argued that Africa's exclusion from permanent representation on the Security Council was inconsistent with the principle of sovereign equality on which the UN was founded.
Ruto pointed out that Africa has 54 member states, representing more than a quarter of the General Assembly, but has no permanent voice in the body responsible for international peace and security. He noted that while every UN member state has one vote in the General Assembly, five countries hold permanent powers on the Security Council that the other 188 do not. The President stressed that reform should deliver equitable and permanent African representation, with all the prerogatives and privileges attached to permanent membership.
The President also criticized the slow pace of Security Council reform, noting that negotiations began in 2009 after the General Assembly moved the process into intergovernmental negotiations in 2008. He expressed concern that 17 years later, negotiations are still ongoing. Ruto linked the question of political representation to the wider reform of the international financial architecture, citing global public debt of $102 trillion in 2024 and the disproportionate burden it places on developing countries.
Ruto called for multilateral development banks to lend more and for longer periods, mobilize private capital at scale, and expand the use of guarantees and risk-sharing instruments to reduce the cost of viable investments. He also emphasized the need for greater access to long-term and local-currency financing to enable developing countries to fund long-term infrastructure without relying excessively on short-term, expensive debt. The President singled out sovereign credit ratings as another area requiring reform.
The President noted that subjectivity in credit ratings has cost African countries about $75 billion through excessive interest costs and foregone lending. He stressed that capital must price risk, not prejudice. Ruto, however, said reforms to the international financial system should be matched by greater responsibility by governments, including prudent debt management, credible projects, respect for contracts, and action against corruption.
On peace and security, Ruto said the rising number of conflicts showed the need for the UN to move beyond responding to wars after they have escalated. He noted that the world recorded 65 state-based armed conflicts last year, the highest number in eight decades of global conflict data. The President argued that reform of both the Security Council and international financial institutions was necessary to restore confidence in multilateralism.
Ruto emphasized that if we seek a United Nations that delivers for all, then all must have a meaningful voice, a fair opportunity, and a stake in the system. He concluded that Africa's voice should also increase in institutions governing global finance, arguing that the continent should have a greater role in decisions affecting the obligations it carries.
Key points
- President William Ruto calls for reforms to the international financial system and the United Nations Security Council.
- Ruto emphasizes the need for equitable and permanent African representation on the Security Council.
- The President links the question of political representation to the wider reform of the international financial architecture.
