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{
    "id": 1525038,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1525038/?format=api",
    "text_counter": 975,
    "type": "speech",
    "speaker_name": "Nominated, ODM",
    "speaker_title": "Hon. Irene Mayaka",
    "speaker": null,
    "content": "furnished with reports on how our infrastructure bond is doing in the local market. We need to know the extent to which local investors are borrowing so that we know whether or not this is working. I have also seen a recommendation on introduction of alternative financial measures like Linked Bonds, Debt Swaps, Diaspora Bonds, and Environmental, Social and Governance (ESG) Bonds. That is also good. Even as we suggest this, we must find out whether this strategy has worked in other economies. If we are borrowing such practice, we must benchmark in countries where this strategy has succeeded. Usually, financial prudence and success are not unique to different environments. You can borrow ideas from where they have worked. There is a very common saying that goes “There is nothing wrong with copying a good cat.” It is very much in order. I want to speak about the monitoring aspect of the Ministry of the National Treasury and Economic Planning. It has also been suggested that as at 31st May 2025, there must be review to find out whether or not debt utilisation and debt procurement processes are working. This is good. However, we must be very careful not to overwhelm one department with too much work at the same time. These are very good measures but we must also be cognizant of their effects on daily operations of the involved institutions. Finally, having strict fiscal discipline within our systems and adopting appropriate consolidated measures is the only way of ensuring that this strategy works. Having said that, I beg to support this Report. Thank you."
}