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{
    "id": 10516,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/10516/?format=api",
    "text_counter": 329,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "THAT, aware that Kenya is the East Africa’s biggest economy and regional economic hub, noting that Kenya is facing a spike in inflation and her currency has plummeted to its weakest level and is now recorded as the continent’s worst performer this year despite being fairly stable for the last four decades; concerned that the Central Bank of Kenya has maintained a “watch and see attitude” and has publicly admitted that it could not control the currency slip citing that some commercial banks are holding foreign currencies and has asserted that the problem may persist for another six months; considering that the Task Force established by the Rt. Hon. Prime Minister to help stabilize the shilling, the efforts by the Monetary Policy Committee and the interventions by Treasury have not succeeded in addressing the situation; aware that this depreciation trend has made many Kenyans and foreign investors incur massive losses and the cost of transacting business unduly expensive, this House resolves to constitute a Select Committee to comprehensively investigate the cause(s) of the drastic and steady decline of the Kenya Shilling against the foreign currencies and make recommendations on the way forward and that the Committee shall comprise the following and shall table its report within sixty days of its appointment :- Hon. Adan Keynan, M.P. Hon. Charles Kilonzo, M.P. Hon. Benjamin Langat, M.P. Hon. Shakeel Shabbir, M.P. Hon. Peter Kiilu, M.P. Hon. Moses Lesonet, M.P. Hon. Emilio Kathuri, M.P. Hon. Benedict Gunda, M.P. Hon. Rachel Shebesh, M.P. Hon. Shakila Abdalla, M.P. Hon. Ntoitha M’Mithiaru, M.P. Hon. Martin Ogindo, M.P. Hon. Yusuf Chanzu, M.P. Hon. (Dr.) Erastus Mureithi, M.P. Hon. Abdul Bahari, M.P."
}