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{
    "id": 1174516,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1174516/?format=api",
    "text_counter": 124,
    "type": "speech",
    "speaker_name": "The Deputy Speaker",
    "speaker_title": "",
    "speaker": null,
    "content": "(b) the borrower be capable of repaying the loan and paying any interest or other amount payable in respect of it; (c) the financial position of the borrower over the medium term be satisfactory; and (d) the terms of the guarantee comply with the fiscal responsibility principles and financial objectives of the national government; The request indicates that the National Treasury has complied with all the necessary provisions of the law regarding the Laikipia county Government borrowing including getting an approval of the Intergovernmental Budget and Economic Council and the Cabinet. This request has, therefore, been submitted to the Senate for approval pursuant to Article 212 of the Constitution and Section 58 (1) of the Public Finance Management Act. Matters relating to public debt are complex and have occupied national discourse lately. It should also be noted that Laikipia county government is the first one seeking a guarantee of the national Government to borrow. In view of the magnitude of the matter at hand, I therefore direct the Standing Committee on Finance and Budget to thoroughly scrutinize and interrogate this request and table a report for consideration by the Senate. I thank you. Sen. Kajwang, you may proceed."
}