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{
    "id": 1382440,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382440/?format=api",
    "text_counter": 326,
    "type": "speech",
    "speaker_name": "Kitui East, WDM",
    "speaker_title": "Hon. Edith Nyenze",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker for giving me this opportunity. Every financial year, the National Treasury or the Government borrows to finance its fiscal deficit as it is stipulated in the Budget Policy Statement. It also borrows to pay off the maturing debts. However, unstable debt can lead to debt distress where a country is unable to fulfil its financial obligations. If our country reaches that point of distress, it will be pathetic to Kenyans. That is why this calls for debt restructuring so that we can avoid the distress. There should be control of cashflows to ensure there is no leakage or corruption because money borrowed to do a project will not be well utilised. We should negotiate with our creditors so that we are able to pay our debts in good time to avoid embarrassment and distress. We also need to pay more than the minimum amount required and prioritise paying debts which attract higher interests. We look forward to a time when our country will be stable and debt-free. Even if we have debts, they should not distress Kenyans by being over-taxed to pay them. We look forward to such a time. Thank you, Hon. Temporary Speaker."
}