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{
    "id": 444370,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/444370/?format=api",
    "text_counter": 74,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "they could do was US$1.5 billion. I want to thank the team here, the lending institutions and the lead councils for that Euro Bond that was floated in North America, USA and Middle East that raised that. What does that Euro Bond do to the ordinary Kenyans? I hope that the US$8.7 billion will ultimately reduce interest rates from the 19 per cent we have today to 10 per cent. If it comes to 10 per cent, I can say that a lot of the middle class in our country will be able to afford mortgage, and more fundamentally that Euro Bond will create a more stable currency situation in our country. It will bring a stabilization of the foreign exchange in our country. So, hon. Speaker, I think this is a small bill. The amount of money they are asking is not that much and because the Constitution and the law provides for them to bring it, I will ask the National Treasury not to have the habit of bringing Supplementary Estimates every now and then. It is not prudent; it is not the best way to do it. It is not good management. They should not take that route. If we allow them to bring Supplementary Estimates I and II, then they will bring Supplementary Estimate III, IV, V, VI up to X. That is not prudent financial management. For this, you have done it but please let us avoid many Supplementary Estimates within a financial year. With those few remarks, I support."
}