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{
    "id": 1517917,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1517917/?format=api",
    "text_counter": 94,
    "type": "speech",
    "speaker_name": "Sen. Kathuri",
    "speaker_title": "The Deputy Speaker",
    "speaker": {
        "id": 13590,
        "legal_name": "Murungi Kathuri",
        "slug": "murungi-kathuri"
    },
    "content": " Before we move on to the next Order, there is a Communication to make on the report by the National Treasury on all new loans contracted by the Government from 1st September 2024 to 31st December 2024. Hon. Senators, as you may have noted, the Senate Majority Leader laid on the Table of the Senate this afternoon the report by the National Treasury and Economic Planning on all new loans contracted by the Government of Kenya from 1st September, 2024 to 31st December, 2024. As you may be aware, Section 1(1) of the Public Finance Management Act (PFMA) states that the Cabinet Secretary shall submit to Parliament every four months a report of all loans made by the national Government, national Government entities and county governments in accordance with Article 21(2) of the Constitution. Pursuant to Section 31(3) of the PFMA, the report submitted to Parliament contains- (a) The names of the parties to the loan. (b) The amount of the loan and the currency in which it is expressed and in which it is payable. (c) The terms and conditions of the loan, including interest and other charges payable and the terms of repayment. (d) The amount of the loan and advanced at the time the report is submitted. (e) The purpose for which the loan was used, the perceived benefits of the loan and such other information as the Cabinet Secretary may consider appropriate. Hon. Senators, given the significance of national debt in our public finance management framework, I hereby commit the report of the National Treasury and Economic Planning on all new loans contracted by the Government of Kenya from 1st September to 31st December, 2024 to the Standing Committee on Finance and Budget for consideration."
}