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{
    "id": 26396,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/26396/?format=api",
    "text_counter": 384,
    "type": "speech",
    "speaker_name": "Ms. Karua",
    "speaker_title": "",
    "speaker": {
        "id": 166,
        "legal_name": "Martha Wangari Karua",
        "slug": "martha-karua"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I stand in support of this Motion. I think that we need to appreciate that when a loan is guaranteed, it is a liability conferred upon all the citizens of Kenya. So, if the loan will be guaranteed and Parliament is going to be informed afterwards, then I do not see the need of even informing Parliament. Therefore, Clause 5 ought to be amended so that the authority of Parliament be sought first and then when the guarantees are done, Parliament be appraised of the National Debt. What is happening around the world today is that quite a few nations including the most powerful nation are so overburdened by debt that their repayment of interest is higher than the repayment of the principal amount. A country can go broke just like individuals do go broke. This is about how we shall manage our national liabilities. Yes, we must borrow because we must improve our lives,"
}