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{
"id": 1524992,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524992/?format=api",
"text_counter": 929,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Thank you. Member for Baringo, proceed."
},
{
"id": 1524993,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524993/?format=api",
"text_counter": 930,
"type": "speech",
"speaker_name": "Baringo County, UDA",
"speaker_title": "Hon. Jematiah Sergon",
"speaker": null,
"content": " Thank you. I also join the Members who have spoken before me. I support and weigh my thoughts into this Medium-Term Debt Management Strategy of 2025. This Report has come at a very good time when we are right in the middle of our term since election. This Report shows the growth that we have so far undertaken through our economy. As most Members have said, borrowing is not a problem. The problem is where we put the money after borrowing. Automatically, you will end up pushing yourself to make sure you pay back the money you borrowed. We are grappling with many vices that contribute to wastage in Kenya today—pilferage and embezzlement of public funds because of lack of proper infrastructure and ways of ensuring that money is taken care of. In this case, the Report suggests that the National Treasury that handles money must by all means make sure that Ministries, Departments, and Agencies (MDAs), and parastatals, use one monitoring channel to make sure they utilise money given to them. The people who handle money are at the Treasury. The Report suggests that the officers must, by all means, make sure that the treasury single account is in place so that all MDAs use one payment channel. Many times we lose money and do not understand where the problem comes from. The people who cause most of the corruption in this country are those who draft budgets. They are the people who decide how much money is borrowed and where the money is used. If we have the single treasury account, we will curb most of the problems we have here today."
},
{
"id": 1524994,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524994/?format=api",
"text_counter": 931,
"type": "speech",
"speaker_name": "Baringo County, UDA",
"speaker_title": "Hon. Jematiah Sergon",
"speaker": null,
"content": "The inter-agency committee should be enhanced to curb runway corruption in most ministries. We also need to check career civil servants who have worked up to 10 or 20 years. There is a possibility of budgeted corruption because of the positions they occupy. They know how much is needed and they are the ones who control budgets. As the National Assembly, we will do our oversight role to make sure that this Report is acted upon to the letter. Thank you, Hon. Temporary Speaker."
},
{
"id": 1524995,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524995/?format=api",
"text_counter": 932,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Thank you. Member for Tinderet."
},
{
"id": 1524996,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524996/?format=api",
"text_counter": 933,
"type": "speech",
"speaker_name": "Tinderet, UDA",
"speaker_title": "Hon. Julius Melly",
"speaker": null,
"content": " Thank you, Hon. Speaker. I rise to support this Report by the Liaison Committee, where I sit as a member. This Report is very important because it provides strategies on how to manage our debt in the Medium-Term. This debt management strategy is a policy document which all countries around the globe have. It is a policy document initiated as a result of world financial crash occasioned by huge debt burden. Across the globe, in our homes and institutions, we have debts. Unmanaged debt is very risky, costly and expensive. It actually depresses economic development. 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."
},
{
"id": 1524997,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524997/?format=api",
"text_counter": 934,
"type": "speech",
"speaker_name": "Tinderet, UDA",
"speaker_title": "Hon. Julius Melly",
"speaker": null,
"content": "In effect, this particular strategy is very good. I laud the National Treasury for having come up with it. The document says that we need detailed quarterly reports on the progress with fiscal consolidation as outlined in the 2025 BPS. The 2025 BPS is a policy document giving direction on the Budget for the Financial Year 2025/2026. The Report also provides how to manage our debt. Our debt has grown over the years to around Ksh11 trillion. It is supposed to be managed. Hon. Temporary Speaker, in managing debt, we need to know where we borrow from. If we borrow externally, it means the pool of money is large. Therefore, the loans will be cheaper. If we borrow locally, two things will happen. We will compete with private entities and individuals causing interest rates to rise. Secondly, we will depress the overall development of our economy. If you look at these debts, 65 per cent local and 35 per cent external, they are wrongly skewed. We need to have borrowed more externally and less internally to allow Kenyans and institutions to borrow within, therefore lowering interest rates. Why do we borrow? We need to do it responsibly and ensure accountability. Any money borrowed should be reflected in roads, electricity, healthcare facilities, schools and other facilities that we are borrowing for. That is why the third recommendation on the integration of the Debt Management System with the Integrated Financial Management System (IFMIS) by 31st May is highly laudable. Every time we borrow money, we need to know how it is utilised, the areas it funds and most importantly, the value it brings. At the end of the day, it will be of value to Kenyans. Another recommendation I laud is where most of the institutions like the state agencies bank in local banks, and then the National Government goes to borrow its money. This practice needs to stop. I laud the National Treasury for coming out very clearly on this. It has been recommended that the National Treasury and the Central Bank of Kenya (CBK) should ensure this practice stops. Lastly, we need to digitise and make sure that our borrowing is..."
},
{
"id": 1524998,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524998/?format=api",
"text_counter": 935,
"type": "speech",
"speaker_name": "Tinderet, UDA",
"speaker_title": "Hon. Julius Melly",
"speaker": null,
"content": " Give me one minute, Hon. Temporary Speaker."
},
{
"id": 1524999,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1524999/?format=api",
"text_counter": 936,
"type": "speech",
"speaker_name": "Hon. David Ochieng’",
"speaker_title": "The Temporary Speaker",
"speaker": null,
"content": " Why should you have one minute? Okay, you have one minute."
},
{
"id": 1525000,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1525000/?format=api",
"text_counter": 937,
"type": "speech",
"speaker_name": "Tinderet, UDA",
"speaker_title": "Hon. Julius Melly",
"speaker": null,
"content": " Thank you, Hon. Temporary Speaker. All the itemised loans that we have need to be integrated into the financial systems. Even as we procure loans—and I laud what the Member for Marakwet East said—it must be done publicly. No loan should be procured by two or three individuals in the National Treasury and agreed upon without understanding its consequences and risks involved. Everyone has to know about it and how expensive or cheap it is for the sake of our country."
},
{
"id": 1525001,
"url": "http://info.mzalendo.com/api/v0.1/hansard/entries/1525001/?format=api",
"text_counter": 938,
"type": "speech",
"speaker_name": "Tinderet, UDA",
"speaker_title": "Hon. Julius Melly",
"speaker": null,
"content": "I support the Motion, Hon. Temporary Speaker. Thank you."
}
]
}