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{
    "id": 1033916,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1033916/?format=api",
    "text_counter": 140,
    "type": "speech",
    "speaker_name": "Dagoretti South, JP",
    "speaker_title": "Hon. John Kiarie",
    "speaker": {
        "id": 13322,
        "legal_name": "John Kiarie Waweru",
        "slug": "john-kiarie-waweru"
    },
    "content": "Hon. Speaker, in the recent years, the level of public borrowing by the Government of Kenya has escalated and is now already unsustainable. It is projected that Kenya will reach the Ksh9 trillion public debt ceiling within the next two years, due to the anticipated revenue shortfall in the current fiscal year and the uncontrolled expenditure. It is on this account that I seek a Statement from the Chairperson of the Departmental Committee on Finance and National Planning on the following: (i) What is the actual status of all the public debt contracts between the Government of the Republic of Kenya and international lenders? (ii) What is the percentage of all loans granted to the Government of Kenya by the People’s Republic of China and in particular the Exim Bank of China and China Development Bank? (iii)What are plans in place to enter into public debt contract with Trade and Development Bank (TDB) for any other syndicated loans that the Government of Kenya may be possessing currently? (iv) What plans are in place with regard to debt restructuring and debt deferral in light of prevailing economic hardships? (v) What is the current public debt management strategy? (vi) What are consequences of the Government of Kenya defaulting loans repayment? I thank you, Hon. Speaker and I signed this on 23rd November 2020."
}