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{
    "id": 431116,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/431116/?format=api",
    "text_counter": 389,
    "type": "speech",
    "speaker_name": "Hon. Omondi",
    "speaker_title": "",
    "speaker": {
        "id": 1406,
        "legal_name": "John Ogutu Omondi",
        "slug": "john-ogutu-omondi"
    },
    "content": "Hon. Temporary Deputy Speaker, I also stand to support this amendment to the Public Finance Management (PFM) Act. I support this amendment to the extent that it will allow our country to start participating in the international capital markets. I want to observe that this is an exercise that should have taken place a long time ago since Kenya has enjoyed a lot of long-term peace. We should have gone into the international capital markets and taken credit for the peace that this country has had for a very long time. However, it is not late because, as the country showed in the 2007/2008-- - When we had a lot of problems, we quickly sorted out ourselves and we are still an island of peace. This is what will inform the rate that will be offered on the sovereign bond. It is difficult anywhere in the world to have a country develop from short-term or medium-term bank loans. It has never happened anywhere in the world. I think this is a move in the right direction, and it should be encouraged. It is true that we could not move into the market and borrow money without the amendment to this Bill. The Mover of this Bill has seen very far. It will enable us into move into international capital markets. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}