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{
    "id": 250448,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/250448/?format=api",
    "text_counter": 219,
    "type": "speech",
    "speaker_name": "Mr. Twaha",
    "speaker_title": "",
    "speaker": {
        "id": 145,
        "legal_name": "Yasin Fahim Twaha",
        "slug": "yasin-twaha"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I want to thank hon. Ojode for giving me two minutes of his time. The truth of the matter is that the whole world is faced with inflation. This week, oil prices went up drastically. The price of oil went up to 73 dollars per barrel. Gold is now at 850 dollars, and has never reached that level before. The cause of inflation is not just because of the voracious appetite of China for raw materials and other things. It is not even because of its ambitions. The problem is that America is printing a lot of money to finance a war which is not necessary. I would like the Minister, when he goes to Paris, Washington and other places not to be too defensive. As a member of World Bank and IMF, Kenya should also register its disapproval of the irresponsible fiscal and monetary policies of the United States of America, which is destabilising the entire world economy. We are paying the price for that. The inflation is catching up with us and the dollar has lost half its value in the past two years. Even if the Kenya shilling was to appreciate by 5 to 10 per cent against the dollar, we would still end up being worse off. I would like to urge that we support this Motion. If the Minister has any programmes to finance, he should join the trend so that if America is printing money to pay for its wars, Kenya might as well print money to finance its programmes since inflation will catch up with us whether we like it or not. We might be having fiscal and monetary restraints because whatever America does, affects our financial stability."
}