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Newsunplug Kenya > Blog > News > This Week, Ruto and Biden Will Talk About Kenyan Debt Relief
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This Week, Ruto and Biden Will Talk About Kenyan Debt Relief

Ivy Irungu
Last updated: May 21, 2024 7:34 am
Ivy Irungu
1 year ago
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U.S. President Joe Biden is set to host Kenyan President William Ruto this week for extensive discussions that will address several critical issues.

The talks are expected to cover debt relief for Kenya, which is facing significant liquidity challenges. A senior administration official informed Reuters that the U.S. is advocating for major creditor nations, including China—Kenya’s largest creditor—to provide debt relief to struggling debtor countries.

Additionally, the discussions will touch on global concerns, including the situations in Haiti, Ukraine, and Sudan. The meeting underscores the U.S.’s commitment to supporting Kenya amid its economic difficulties and addressing pressing international issues collaboratively.

“We think it’s essential that responsible debtors provide reprieves for countries like Kenya, whether that’s by debt service suspensions or via new grant assistance,” the official said.

Washington is also encouraging international financial institutions to provide low-cost financing to Kenya and other nations facing economic difficulties. A senior administration official indicated that significant joint announcements regarding debt relief are expected during President William Ruto’s state visit this week.

These announcements aim to offer solutions for countries like Kenya to address their debt challenges.

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One of the objectives of this high-profile visit is to counter China’s growing influence in Africa. U.S. Treasury Undersecretary Jay Shambaugh recently cautioned China and other major lenders against “free-riding” by collecting debt service payments while limiting new loans.

This reflects the increasing frustration among Western countries and debtor nations regarding Beijing’s slow pace on debt restructuring and relief efforts.

Eric LeCompte, executive director of Jubilee USA Network, an alliance of religious, development, and advocacy organizations, noted that President Ruto’s visit would send significant signals about U.S. policy towards Africa.

The visit highlights the U.S.’s commitment to supporting African countries amid economic challenges and countering China’s influence on the continent.

“When Ruto speaks, he’s really speaking for Africa. And given that President Biden hasn’t had the chance to visit Africa yet, this meeting is not only about Kenya, it’s really about sub-Saharan Africa as a whole,” LeCompte said.

At a meeting hosted by President William Ruto last month, African leaders urged wealthy nations to make substantial contributions to the World Bank’s International Development Association. This facility provides low-interest loans to developing countries for their development needs and to combat climate change.

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According to a senior administration official, President Joe Biden and President Ruto will also discuss expanding U.S.-Kenyan security cooperation.

The relationship is evolving from regional efforts to a more comprehensive global partnership, with discussions expected to cover hotspots such as Haiti, Ukraine, and Sudan.

Kenya had previously agreed to deploy police officers to Haiti to address the escalating violence there. However, in mid-March, Kenya paused this deployment.

Biden and Ruto are scheduled to hold a joint news conference following their talks on Thursday, followed by a state dinner, emphasizing the importance of their discussions and the strengthened partnership between the two countries.

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