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{
    "id": 1261802,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1261802/?format=api",
    "text_counter": 155,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": "We would then ask ourselves what the risk of moving to a debt anchor, away from an absolute figure, is. Other than economists and finance literate people, very illiterate people will tell you how to measure debt in present value terms and that becomes a problem. That is why you will find that initially it was easier to convince Parliament and the country that we are better off with an absolute figure. In 2014, we were told that we would be better off moving from a debt anchor to an absolute figure, where we would know that our debt ceiling is at Ksh5 trillion, or Ksh9 trillion or Ksh10 trillion as we would know when we hit it. So, what are we measuring in that Ksh10 trillion? If someone were to ask us today whether our debt ceiling of Ksh10 trillion is a measure of our debt carrying capacity or a measure of how sustainable our debt is, the simple answer would be that this absolute figure is meaningless in defining whether our debt is sustainable or if we have the capacity to carry that amount in debt."
}