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{
    "id": 1275893,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1275893/?format=api",
    "text_counter": 417,
    "type": "speech",
    "speaker_name": "Sen. Oketch Gicheru",
    "speaker_title": "",
    "speaker": null,
    "content": "and Ministry go out of the established premises of the Bill. That is why we have an exceptional clause, which states that if there are exceptional circumstances, where we need to borrow out of what we have set as a country, then we can go back, and review. Mr. Temporary Speaker, Sir, these exceptional factors are obvious. We have seen them in national and global occurrences. Globally we have seen currencies, which we trade on, being very volatile because of different challenges. In case we have a runaway exchange rate because the currencies that we are trading on have caused a devaluation of our own currency, then it is natural economically to come back to the House and seek permission to go beyond a regulation. We have instances that we have seen in this country such as COVID-19 and other vagaries of nature that caused many staggering elements in the issues around debt management. We can review it at that point. We can end up being in a war situation with another country or within the country, which necessitates the review our debt management. Lastly, we have seen in this country instances of natural calamities such as famine and locust invasion. If you do not adjust on what you can borrow, then you end up mismanaging the economy. With these kinds of proper propositions on debt relief and management, I urge the House that this is the first time the Standing Committee on Finance and Budget together with the National Assembly and the Ministry have thought more scientifically on how to manage our debt. I urge my colleagues to support this Bill because it gives us a compliance plan that we can go with and assess whether we are making progress. I thank all the colleagues who have contributed. I hope that we can make sure this Bill goes through. I thank you."
}