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{
    "id": 269627,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/269627/?format=api",
    "text_counter": 438,
    "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, as I said, let us be sober. This crisis did not affect only Kenya. Our other neighbouring countries were worse hit than us. Over the same period that we are talking of; from October to December, the Kenya Shilling depreciated by 19.7 per cent. The South African Rand depreciated by 20.6 per cent. Governor Ndung’u is not the Governor of the South African Reserve Bank. In Uganda, our neighbour here, the depreciation rate was by 14.3 per cent. Again, Governor Ndung’u is not the Governor of the Central Bank of Uganda. In Tanzania, and I will give a reason why it was not as much, it depreciated by 10.1 per cent. What Tanzania did initially was try to sell foreign currency. They did that until they realised that their coffers were almost empty and then they left the situation to market forces. That was the situation. It had nothing to do with Governor Ndung’u."
}