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{
    "id": 1216055,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1216055/?format=api",
    "text_counter": 212,
    "type": "speech",
    "speaker_name": "Sen. Okiyah Omtatah",
    "speaker_title": "",
    "speaker": null,
    "content": "The risk we face with raising our debt limit is one that we must address with caution. Preferably, instead of raising the debt limit, we should be auditing our debt to reduce the debt so that we can know which the sovereign debt is and which is a regime debt and then apportion a regime debt to those who are responsible and clean up our debt register. Madam Temporary Speaker, I begun with Mr. Speaker, Sir, but now I have to speak to Madam Temporary Speaker due to the changes. As we prepare the Budget Policy Statement (BPS), we must be awake to the danger we are facing as a country if we continue gobbling up debts. I pray that even if we raise our public debt, we must limit commercial debts. Commercial debts are really the devil in our debt regime. We must limit our commercial debt to a minimum and make sure that if there is any room for increasing our debt ceiling, we only increase bilateral debt and lock out commercial debts because of what they have done to this economy since the Jubilee Government came into power in the year 2013. I pray that we move with caution and we do not just come up with flowery figure saying debt is good; debt will do development; debt will do whatever. Debt can be a death trap and right now, Kenyans have become tenants in their own country because of the snowballing debt and cascading danger that we are going to default. I thank you."
}