President William Ruto has clarified that the push to reform the international financial system is not a battle between developed and developing nations. Speaking at the Pact for Prosperity, People and Planet (4P) high-level meeting, he emphasized that the initiative seeks to address structural injustices in global finance and offer workable solutions for all countries, regardless of their economic status.
Ruto highlighted that the 4P pact aims to secure financing mechanisms that support developing nations, whose growth has been constrained by outdated and unequal financial systems. He noted that 73 countries have already joined the pact, showing a growing consensus that transcends geopolitical divides. “This is about solutions, not narratives or finger-pointing,” he stated.
The President commended the progress made under the 4P initiative, saying it has effectively unified development goals with climate action. He stressed that no country should be forced to choose between fighting poverty and addressing climate change. The rapid maturation of the pact, he added, is a clear sign of the international community’s commitment to reform.
Ruto further called on governments, particularly in the Global South, to strengthen domestic resource mobilization. He emphasized that development financing should not rely solely on international institutions and that local solutions must be prioritized. He pointed out the potential of leveraging the private sector to improve public services, especially in areas like healthcare.
French President Emmanuel Macron echoed Ruto’s message, warning that framing global financial reform as a tug of war between the Global North and South undermines collective progress. Both leaders agreed that collaboration and mutual responsibility are essential to achieving sustainable global prosperity.
