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{
    "id": 1593021,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1593021/?format=api",
    "text_counter": 489,
    "type": "speech",
    "speaker_name": "Nominated, UDM",
    "speaker_title": "Hon. Suleka Harun",
    "speaker": null,
    "content": "we must also improve on our cash forecasting systems and coordinate better between debts and cash management teams. This will also help us manage the short term liquidity pressures. There is also a serious concern that was raised about wasteful spending, particularly on commitment fees. In the first nine months of financial year 2024/25, the government paid over Ksh770 million in commitment fees. We must also stop this by ensuring that our development partners fully disburse funds. That means we must honour our counterpart funding obligations. What happens is that we usually sign contracts and accessing funding but we do not have the counterpart funding component ready. Therefore, in the long run, we are unable to meet our obligations of funding those projects and the donors refuse to release their component of the funds, thus leading to huge payments of commitment fees. We also need to increase our investment in development. Development spending plays a big role in supporting public debt repayment in the long run and promoting debt sustainability for the country."
}