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{
    "id": 1575998,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1575998/?format=api",
    "text_counter": 3934,
    "type": "speech",
    "speaker_name": "Buuri, UDA",
    "speaker_title": "Hon. Mugambi Rindikiri",
    "speaker": null,
    "content": " Thank you, Hon. Speaker. The Report from the Committee urges the Government to consider implementing a national liability management policy. This is very key. The Policy will address the usage, costs, and sustainability of the debts that we have. More importantly, that Policy is also going to address the limit of these debts. The problems we have now are due to the lack of such a policy that sets the guidelines. When we passed the Tax Policy in this country, things started to shape up in terms of how tax management would be handled. In the absence of a national liability management policy, the National Treasury has the leeway to conduct debt management activities as it sees fit. Therefore, I urge that this Policy be put in place immediately. It will establish guidelines and measures aimed at reducing debt servicing. We have a very serious problem. How are the loans being used? Currently, we do not know the costs of various debts. We need to determine whether to pursue short-term or long- term debt and what we will do with the loans. Without such a policy, that is why you see money not being allocated to some issues in the Budget. I agree with the Committee's Report that there is a need to have a national liability management policy. It will clearly outline the guidelines on how we will manage the debts of this Republic."
}