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{
    "id": 267422,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/267422/?format=api",
    "text_counter": 383,
    "type": "speech",
    "speaker_name": "Mr. Keynan",
    "speaker_title": "",
    "speaker": {
        "id": 41,
        "legal_name": "Adan Wehliye Keynan",
        "slug": "adan-keynan"
    },
    "content": "From the onset, I would like to take this opportunity to thank my colleagues for having allowed this House to pass the Motion that established the Select Committee that was required to look into the drastic decline of the Kenya Shilling against foreign currencies. Secondly, I would also like to thank the Speaker and his office for all the support they have given to the Committee and the staff to enable them to come up with this comprehensive report. I would also like to thank the Clerk and his team for all the support that was extended to the Committee. Having said that, our mandate was to look into the causes or the issues that triggered the drastic decline of the Kenya Shilling from Kshs83 to Kshs107 to the Dollar. The Committee held a number of meetings with more than 30 stakeholders including the Ministry of Finance, the officials of the Central Bank, the membership and the officials of the Kenya Bankers Association, a number of economic and financial experts, law experts and representatives of a number of commercial banks. In these meetings, our desire was to find out what really triggered the drastic decline of the Kenya Shilling from Kshs83, in particular from the months of September, October, November and December, 2011. In all the meetings that we have had, there are issues that came up, in particular from the officials of the Central Bank of Kenya and other Government officials. They stated the things that, indeed, triggered the drastic decline of the Kenya Shilling against foreign currencies. These are the theories that we were told. One of the theories that we were given - and I call them"
}