Geopolitics

President William Ruto demands global financial architecture overhaul to unlock green capital pipelines - Energy News Network

Source: Energy News Network

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DW NOTE

Ruto wants rich countries to restructure global finance so Kenya can access cheaper climate capital. But Kenya's external debt is already 68% of GDP, and the shilling has lost half its value since 2020. The constraint isn't the architecture — it's that no one believes Nairobi will pay them back.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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President William Ruto demands global financial architecture overhaul to unlock green capital pipelines - Energy News Network

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