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{
    "id": 496562,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/496562/?format=api",
    "text_counter": 69,
    "type": "speech",
    "speaker_name": "Hon. Wakhungu ",
    "speaker_title": "",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "Thank you, hon. Speaker. I rise to oppose the Motion. The Mover did not take 30 minutes, having said that he would have taken 60 minutes. Looking at this Report, especially when it comes to the East African Community Monetary Union, I strongly feel that we are not yet ready. I have gone through this document, and I am going to argue out my points. Much as I would have wanted to support the Motion, having gone through the Report and done a cost-benefit analysis, I realise that we will be putting this country at risk. I listened keenly as the Mover initiated this debate. She mentioned issues of comparative analysis that have been done. Unfortunately, the Report showing a comparative analysis does not show the merits and the demerits of establishing a common monetary union. It becomes very difficult for this august House to make a decision on this matter. Under Item 1.7.75 the Report says:- “The East African Monetary Union will have both positive and negative consequences on the economy. However, if mitigating measures are put in place and the protocols are well implemented, the envisaged negative effects will be significantly reduced altogether or eliminated.” When it comes to risk mapping and risk analysis, you need to identify the risks. You must also come up with the specific mitigating strategies you are going to put in place. Looking at this Report, it has not been specific to identify the kind of risks and the The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}