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{
    "id": 1222246,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1222246/?format=api",
    "text_counter": 314,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr) Ojiambo Oundo",
    "speaker": null,
    "content": "Secondly, on the issue that the Committee has proposed, which requires to be challenged, of the 50 per cent spread or share between domestic and foreign borrowing; the fundamentals of borrowing are to test the cost of finance, but not the source. What is the cost of finance? Treasury Bills of 180 days attract 10.216 per cent today. That means that if you float a Treasury Bill, you will pay 10 per cent annually. If you went to borrow from the foreign markets, you will get a far much less rate compared to domestic borrowing. If you add fluctuations due to dollar domination or change in the exchange rate, you will not get anywhere close to the 10 per cent that is prevailing in the local market. The Committee would have addressed the final cost of the loan or debt, but not necessarily where it would come from."
}