African leaders want to develop their system for checking whether countries can pay back the money they borrow. They met in Ethiopia to discuss this new plan. They believe the current system, conducted by companies outside Africa, isn't fair to African countries.
These unfair checks have stopped Africa from using $75 billion that could help make people's lives better. Kenya's leader, William Ruto, pointed out something interesting. Africa has many good things, like natural riches, good farm land, and money sent home by Africans living in other countries. Yet the companies that check if countries can pay back loans have given bad scores to almost all African countries. Only two African countries received good scores in the last ten years.
Mr. Ruto explained how a better score could help Africa. If African countries received just one better grade on their scores, they could borrow $15.5 billion more money. This amount would be bigger than what rich countries give to help Africa. It would also pay for most of the roads, bridges, and buildings Africa needs.
Many important African leaders came to talk about this new plan. The leaders included the presidents of Algeria, Ethiopia, and Zambia. They all agreed Africa needs a way to show the world it can handle money well.
These unfair checks have stopped Africa from using $75 billion that could help make people's lives better. Kenya's leader, William Ruto, pointed out something interesting. Africa has many good things, like natural riches, good farm land, and money sent home by Africans living in other countries. Yet the companies that check if countries can pay back loans have given bad scores to almost all African countries. Only two African countries received good scores in the last ten years.
Mr. Ruto explained how a better score could help Africa. If African countries received just one better grade on their scores, they could borrow $15.5 billion more money. This amount would be bigger than what rich countries give to help Africa. It would also pay for most of the roads, bridges, and buildings Africa needs.
Many important African leaders came to talk about this new plan. The leaders included the presidents of Algeria, Ethiopia, and Zambia. They all agreed Africa needs a way to show the world it can handle money well.
