Why the West is hesitant about Africa's crusade to reform IMF, World Bank

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President William Ruto and two of his fellow East African leaders - Yoweri Museveni of Uganda and Paul Kagame of Rwanda - as well as the African Development Bank have expressed their displeasure with the archaic structure of international financial institutions.

The leaders have called for urgent reforms to tackle the continent's decades-old underdevelopment and worsening debt crisis. They have demanded a robust role in the Western-dominated institutions' decision-making to unlock more resources for Africa to fast-track its economic transformation.
The call was part of an extensive reform proposal that - if implemented - could secure for the continent $169.4 billion a year in development financing, or about 42 percent of estimated annual financing gap of $402.2 billion.