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"id": 103785,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/103785/?format=api",
"text_counter": 116,
"type": "speech",
"speaker_name": "Mr. Nguyai",
"speaker_title": "The Assistant Minister, Office of the Deputy Prime Minister and Ministry of Local Government",
"speaker": {
"id": 113,
"legal_name": "Lewis Nganga Nguyai",
"slug": "lewis-nguyai"
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"content": " Mr. Speaker Sir, I beg to reply. (a) I confirm that the Kenya Government borrowed funds from the Exogenous Shocks Facility known as ESF of the International Monetary Fund (IMF) in May 2009 through the Central Bank and the terms of the loans were as follows: Interest rate - 0.5 percent per annum, grace period â five-and-half years, repayment - semi annually ending ten years after the first disbursement in 2019. The Structural Adjustment Programmes (SAPs) were introduced by the IMF and the World Bank in the 1980s. They entail a set of economic policies aimed at restoring a sustainable balance of payment and fiscal positions, reducing inflation and making the economy more market oriented in order to establish conditions for sustainable growth and poverty reduction. Such measures include rationalisation of the Government expenditure,"
}