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{
    "id": 1352751,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352751/?format=api",
    "text_counter": 2511,
    "type": "speech",
    "speaker_name": "Emuhaya, ANC",
    "speaker_title": "Hon. Omboko Milemba",
    "speaker": null,
    "content": "The National Treasury is still lagging behind in terms of debt reporting. It is not willing to give a full disclosure on debts and who borrowed those debts and where the money went to. It is important that this Committee continues to bring reports to this House so that we know the exact amounts of monies that Kenya owes to which countries. I am happy to hear the President speak on this issue less than a month ago. He said that the Government was not very sure about the country’s debt stock. There is need to establish to whom and how much debt we owe, both domestically and externally. We do not have those details because of lack of a debt stock register. It is important that we establish a debt register. People in Government, particularly at the National Treasury, do not want to declare these debts openly. It is like they are hiding something. That is why the Eurobond has become a problem for us. I am happy that the Member who spoke before me was Waziri Kiunjuri, who I am proud to be here with. When the Eurobond was taken, we are told that it never reached Kenya. At one point, a debate on corruption was raging. There are people in Government who use external borrowing as an avenue for embezzling public money. That is how we lost the Eurobond. Loans are taken but they disappear before getting to Kenya. We have another case study, where Kenya Power and Lighting Company (KPLC) borrowed Ksh17 billion, as a government entity, but they could not account for that money. When they were confronted by Parliament, the KPLC management indicated that they were not aware of such borrowing. I am sure that the Chairman is aware of this matter..."
}