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{
    "id": 1549949,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1549949/?format=api",
    "text_counter": 228,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. I rise to second this important Motion. Africa has really suffered under the hands of multilateral and bilateral lenders. Multilateral lenders like the International Monetary Fund (IMF) and the World Bank have given conditions to African countries like downsizing public service and reforms in various sectors of the economy to access loans. If you recall, last year during the demonstrations on the Finance Bill, the IMF programme on financing was based on tax revenues. For us to access the loans, the condition was that we needed to increase taxes. The IMF is telling African countries that they have to raise their own revenues before lending us their money. Some of those conditions have caused a lot of problems in Africa. Bilateral lenders like China give us very expensive loans which have brought a lot of suffering to the economy. We are paying very high interest rates and the debt servicing has increased and, therefore, suffocating economic growth in this country."
}