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{
    "id": 1352652,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352652/?format=api",
    "text_counter": 2412,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": "If I go back to what I was saying, there is a misnomer on the level of our indebtedness. I want to commend the National Treasury and the current administration. When His Excellency the President said that this administration will do responsible borrowing, he meant business. During campaigns last year, he told us that he was a man on a mission, but many people took him for granted. His Excellency President William Ruto is, indeed, a man on a mission. He has proved that he is on a mission to transform Kenya and make sure that our economy gets back to its feet. I take this opportunity to also commend the World Bank. At the management level, they have confirmed that they will grant us about US$12 billion over the next three years. We are also getting US$1 billion from the International Monetary Fund (IMF). This is a concessional financing that the Public Debt and Privatisation Committee is talking about. We can finally retire most of our expensive commercial debts. With this concessional financing, we can re-establish a stable economy that will work for the majority of Kenyans. The leadership that we see under the Kenya Kwanza administration and the able leadership of the Public Debt and Privatisation Committee led by Hon. Shurie and deputized by Hon. Makali Mulu will ensure that our public debt levels are properly managed and are sustainable for our country. Debts will now go towards financing actual projects. While serving with Hon. Makali Mulu in the Budget and Appropriations Committee, we always insisted in our reports that all our debt must be traceable to specific projects. The Public Debt and the Privatisation Committee, being a stand-alone Committee dealing with public debt, should now ensure that the National Treasury is able to specifically drill down each of the debts that we borrow in this country to particular projects. They should also ensure that they are projects that have a return to the people of Kenya, and that we eventually pay back the debt that we incur as a nation. Hon. Temporary Speaker, with those many remarks, I ask Members to support this Report as I congratulate all the Members of the Public Debt and Privatisation Committee. Unlike many other Committees of this House, they have proved to be very diligent Legislators who know that their work is not just to churn out reports, but also being in the House to debate and support their reports. I want to request all our Chairpersons to emulate the Chair, Vice Chair, and members of the Public Debt and Privatisation Committee. With that, I beg to support."
}