Washington: Kenyan President William Ruto visited the White House, where he was warmly welcomed by US President Joe Biden. This marks the first state visit by a Kenyan leader to the US in 15 years. During their meeting, both leaders emphasized the need for global economic reforms to alleviate the severe debt burdens affecting Kenya and other developing nations.
The joint appeal, termed the Nairobi-Washington Approach, underscores Biden’s effort to present the US as a more favorable partner to African countries compared to China. Beijing’s significant investments in Africa often come with high-interest loans and stringent financing terms. Biden and Ruto urged creditor nations to ease these financial constraints and called for international financial institutions to coordinate debt relief and provide more favorable financing conditions.
The White House also announced a $250 million grant to the International Development Association, a World Bank affiliate, to support impoverished countries facing economic crises. Biden and Ruto plan to hold formal talks, address a joint news conference, and attend a state dinner at the Pavilion on the South Lawn of the White House on Thursday.
Kenya’s debt-to-GDP ratio exceeds 70 percent, with a substantial portion owed to China. Fitch, the credit rating agency, estimates that Kenya will allocate about a third of its government revenue this year to interest payments. President Ruto emphasized the need for a fair international financial system that treats all countries equitably. Additionally, Biden informed Congress that he intends to designate Kenya as a major non-NATO ally.
This landmark visit not only strengthens US-Kenya relations but also highlights the pressing need for global economic reforms to support developing nations in overcoming their debt challenges.
