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{
    "id": 1545140,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1545140/?format=api",
    "text_counter": 190,
    "type": "speech",
    "speaker_name": "Sen. Oketch Gicheru",
    "speaker_title": "",
    "speaker": null,
    "content": "Last year, I was in the Committee on Finance and Budget when we proposed that the only reason we will pass a BPS in this House is if the National Treasury will help the country go to a 50-50 situation, whereby the domestic debt will be 50 per cent and the external debt will take the other 50 per cent. However, on the report that we have heard now, we have 30 per cent for External Debt Market and 70 per cent for DDM. What are we doing as a House? Why do we sit and restructure debt and recommend certain numbers that can allow that we do not face crowding out of our businesses? The Government has realised that despite the fact that DDM is the most expensive compared to the external market, it is a very easy capital to come by and get into your hands. It is very easy for money to come from Equity Bank or the Kenya Commercial Bank (KCB) or Family Bank and then go to the Central Bank of Kenya (CBK). Since there is no automation, you can quickly get your hands in some monies here and there and it gets lost somewhere. How is this possible? 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."
}