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{
    "id": 1545655,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1545655/?format=api",
    "text_counter": 210,
    "type": "speech",
    "speaker_name": "Sen. (Dr.) Khalwale",
    "speaker_title": "",
    "speaker": {
        "id": 170,
        "legal_name": "Bonny Khalwale",
        "slug": "bonny-khalwale"
    },
    "content": "Thank you, Mr. Temporary Speaker, Sir. I beg to move- THAT, the Senate adopts the Report of the Standing Committee on Finance and Budget on the 2025 Medium Term Debt Management Strategy, laid on the Table of the Senate on Wednesday, 12th March, 2025. As the Senate adopts the Report herein, it is good for us to bring it to the attention of the House that the Medium-Term Debt Management Strategy is pursuant to section 33 of the Public Finance Management Act, CAP. 412A. The MTDS provides a framework for informed decision-making on public borrowing and debt management. It gives and guides the national Government in structuring the debt portfolio to minimise costs and risks while ensuring sustainability and supporting the Government of the domestic debt market. The MTDS was tabled in Parliament on 13th February, 2025 and subsequently committed to the Standing Committee on Finance and Budget for consideration. Its submission aligns with section 33(1) of the Public Finance Management Act, 2012, which mandates the Cabinet Secretary responsible for finance to submit to Parliament a statement outlining the national Government's debt management strategy. It provides information on the following key elements- (1) The stock of public debt as at the date of tabling of the statement. (2) The sources of the loans required by the national Government and the nature of the guarantees issued by the national Government. (3) The principal risks associated with these loans and guarantees. (4) The assumption underpinning the Debt Management Strategy. (5) Analysis of the sustainability of both actual and potential public debt. The resolution of the House on the report of the Medium-Term Debt Management Strategy shall serve as a foundation for determining the appropriate limits on proposed domestic and external borrowing. Additionally, it shall inform the approval of the Budget Policy Statement (BPS) report. The 2025 Medium-Term Debt Management Strategy outlines the following strategy- (a) A gross financing ratio of 25:75 for external and domestic borrowing respectively. (b) A net financing strategy of 35:65 for external and domestic finance respectively. This underscores the continued reliance on domestic market as the primary source of financing for fiscal deficits over the medium-term. As at the end of January 2025, the 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."
}