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"id": 270564,
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"type": "speech",
"speaker_name": "Mr. M.M. Ali",
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"speaker": {
"id": 74,
"legal_name": "Ali Mohamud Mohamed",
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"content": "Mr. Deputy Speaker, Sir, what is before us is a very important matter. We are here to prosecute the Select Committee’s Report on reasons why the Kenya Shilling declined. This has had a lot of effects. We know too well that our economy has a lot of problems and we need to address them very seriously. As such, we cannot handle this matter. Personally, I read the Report quite well, I have acquainted myself with the Report properly and I agree with it to a large extent. However, I have a big problem when it comes to recommendations of the Committee. When we are talking about reasons why the Kenya Shilling declined and we have documented it properly, then we reduce it to an individual, I have a problem with that. Market forces regulate exchange rates and not individuals. These market forces are guided by demand and supply in the market. The important supply and demand aspects that we consider are exports and imports of a particular country. When you import more than you export, then you know that the currency of that particular country is in a problem."
}