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{
    "id": 165885,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/165885/?format=api",
    "text_counter": 483,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Given the integrated nature of the global financial market, the crisis led to other advanced economies as well as emerging markets, thereby triggering a global credit and liquidity crunch. Consequently, the global economy is now experiencing one of the worst recessions which is projected to expand by merely 0.5 percent in 2009. Equity markets have fallen and capital flows to emerging and developing countries have declined and many currencies have weakened. The impact of the global financial crisis on the Kenya economy as is the case with other developing economies is that the impact of global financial crisis on Kenya depends on the degree to which the economy is integrated to the global economic and financial systems through trade, investment and financial flows. The main channel through which the impact of the global financial crisis is likely to have adversely affected our economy is as follows:"
}