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{
    "id": 1382311,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382311/?format=api",
    "text_counter": 197,
    "type": "speech",
    "speaker_name": "Emuhaya, ANC",
    "speaker_title": "Hon. Omboko Milemba",
    "speaker": null,
    "content": "During the Committee sittings, we received very many case studies, showing how the Government has borrowed money which is deposited in our banks. It has stayed there for more than five or seven years and the banks are lending it to the Government in form of treasury bonds and treasury bills. So, it ends up borrowing its own money which it took from outside at a high interest rate. Then, it is given to a department or ministry and it goes back to the bank. Again, it is given to the Government as local borrowing in form of treasury bonds and treasury bills. This is making our borrowing escalate for no proper reason. Therefore, there is need for the National Treasury to create a single account. Although we repeated this last year, we have to hammer it down until it is done."
}