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{
    "id": 269617,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/269617/?format=api",
    "text_counter": 428,
    "type": "speech",
    "speaker_name": "Mr. Githae",
    "speaker_title": "The Minister for Nairobi Metropolitan Development",
    "speaker": {
        "id": 159,
        "legal_name": "Robinson Njeru Githae",
        "slug": "robinson-githae"
    },
    "content": "Mr. Deputy Speaker, Sir, all the experts and economists agree on the following things: One; that the depreciation of the Kenya shilling resulted, or started mainly from the debt crisis in Europe, particularly, in Greece, Italy and Portugal. This was when there was an eminent threat of default by those countries. What happened? The euro started depreciating. The dollar started appreciating. There was actually flight of capital from euro world to the dollar. That was the beginning of the crisis. As a result the dollar strengthened, and strengthened also in relation to the Kenya Shilling. There was migration, investment to the dollar, because the dollar was seen as a save haven---"
}