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"id": 1545123,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1545123/?format=api",
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"type": "speech",
"speaker_name": "Sen. Mungatana, MGH",
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"speaker": null,
"content": "If you look at that report, it says that the National Treasury, the Central Bank and the CoB should fully automate the withdrawal of debt service payments from the Consolidated Fund by 31st May, 2025. Additionally, an inter-agency report on the implementation status of these recommendations should be submitted to Parliament 15 days after 31st May, 2025. This recommendation is saying that the withdrawal of the debt service payments are not automated. Mr. Deputy Speaker, Sir, at least, they are not fully automated. Then what does this mean? It means that some monies can be withdrawn and they are supposed to be servicing debts or servicing the cost of debt and yet we are dealing with paperwork that is physical. This means and we all know that when matters are not automated and when there is human interference, there is a possibility of pilferage. Mr. Speaker, this Senate report is telling us that there is no transparency even in withdrawing the money and making those payments. It is a shame. We have been independent for many decades now and it cannot be that part of the withdrawals for payments on servicing our debt are manual but this is what is suggested here. I pray that by 31st May, 2025, we will receive a report in this Senate that will be telling us that they have automated that. This is because, when you leave it to human interference and human judgments, it will mean that this cost of debt is not what we are paying. Maybe, it is not really what is supposed to be paid. For the ones that are automated, we can always look at them and get a proper report. The one that is not automated, and yet withdrawals are being made from the Consolidated Fund, the National Treasury and from the central bank are manual. Mr. Deputy Speaker, Sir, how can that be? I fully agree with this recommendation that the Central Bank must surely make arrangements to have these withdrawals become automated. There is also a lack of financial controls and the Senate sitting here has recommended that in order to enhance financial control, to improve the accuracy and timeliness of public debt statistics, and strengthen decision-making for greater transparency and accountability, the National Treasury should integrate the public debt management system with IFMIS by 31st May, 2025 and submit a report within 15 days of implementation. Mr. Deputy Speaker, Sir, this suggests that the National Treasury has not integrated the public debt management system with IFMIS. When IFMIS was introduced to this country, it was touted as the system that would solve all the problems. In fact, the Integrated Financial Management System is said to deal with all issues related to government finances. It is strange, when you look at what is happening, that the public debt management system is outside the IFMIS. I have said previously in my statement that the previous recommendation is that it is not fully automated. Some of the payments of the monies in terms of interest or the costs of the loans we have taken are not automated. So here you have non-automation, and then here we have, again, the public debt management system is not in the IFMIS. Is this by design? Or can we say it is human error? No, there is a problem there. Someone must be benefiting, and these are the hideous characters. I have many times said that the National Treasury needs to be drained. How do you explain that? How The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}