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{
    "id": 1382375,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382375/?format=api",
    "text_counter": 261,
    "type": "speech",
    "speaker_name": "Wundanyi, WDM",
    "speaker_title": "Hon. Danson Mwashako",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. We must look at the trade-offs. If we borrow more foreign loans, we face huge foreign exchange rate risks. At the same time, if we borrow more locally, we may crowd out investors and the private sector in the country. This trade-off must be well calculated. I like the part in this Report that states that after its adoption, the Ministry of National Treasury and Economic Planning must submit its debt sustainability analysis to this House so that we know whether our debt as a country is sustainable, and if we can manage it and pay it off. I sit in the Budget and Appropriations Committee. The Principal Secretary for the National Treasury and Economic Planning appeared before us yesterday and told us that they wish to make the fiscal consolidation path that they have been following friendly, so that we can cover our budget deficits. At the same time, we must continue paying our debts in good time. As we do so, we should not sacrifice cheap debt for expensive debt like we did recently, where we raised the Eurobond at 6.75 per cent and we will be paying it at 10 per cent and yet, we call that sustainability. It is my hope that this policy will be followed and Parliament will keep the Government in check so that we can get good dividends from this Report. I support."
}