Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1507167,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1507167/?format=api",
    "text_counter": 215,
    "type": "speech",
    "speaker_name": "Sen. Ali Roba",
    "speaker_title": "",
    "speaker": null,
    "content": "even so advanced as America and others operate seriously with borrowing and debt. It is not an issue that is unique to Kenya. Since we adopted the debt-to-(Gross Domestic Product) GDP ratio as a measure, and we put our ideal recommended level at 55 per cent of the GDP, now the trend has started taking shape, and we are gradually moving towards that 55 per cent. This is commendable to the Government and the National Treasury. Records indicate that we have also improved tremendously. Soon, we will be tabling the Medium-Term Debt Management Strategy, which will indicate clearly that we have improved in our repayment of the debt from 2022 to date; the numbers have more than doubled in terms of our repayment ratio as opposed to that. It stands at almost Kshs1.5 trillion in the current financial year, which is something that shares a critical indication that we are headed in the right direction. Something else that ought to be discussed: most people, when the exchange rate came down, thought that it was a glitch. It was just an accident that the exchange rate has come down from 164 shillings to the dollar to up to 130. The sceptics have kept on saying that this is going to be short-lived. However, it is amazing that it has sustained itself. The exchange rate has stabilised at 130, and we are hoping for even better. This is also a matter of monetary policy from the bank and the Government in terms of availability. When the President gave the State of the Nation, there was also a discussion of foreign exchange reserves. We had zero foreign exchange reserves to cover even a month. Now, it is reported that we have up to four months of export facilitation in terms of foreign currency reserves, which is very commendable. I beg to support. Thank you."
}