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{
    "id": 435169,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/435169/?format=api",
    "text_counter": 388,
    "type": "speech",
    "speaker_name": "Hon. Omondi",
    "speaker_title": "",
    "speaker": {
        "id": 1406,
        "legal_name": "John Ogutu Omondi",
        "slug": "john-ogutu-omondi"
    },
    "content": "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 move into international capital markets. The other thing is that most lenders look for track record and the more we delay in taking this step, the more we fail to have any track record that will help us borrow cheaply in future. So, this should be the beginning and it is important that other private investors, other than our Government, should go into the international capital market because we cannot build our roads. We cannot build our factories without long-term loans. It is true all over the world that at the moment there is a lot of international capital moving into various regions and sooner or later, if we enter into this market and prove ourselves, who knows Nairobi in Kenya can become an international capital market for this region. With those few remarks, I beg to support this amendment."
}