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{
    "id": 472056,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/472056/?format=api",
    "text_counter": 31,
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    "content": "was coming in to take over from Bernanke. When they increase interest rates, it is normally 0.5 per cent at the very most. When you look at the document which was brought by the Chair, first of all, it is unfortunate that we are comparing ourselves with the “incomparables”. When we compare ourselves with countries that are on a downward spiral, we are not doing very well. What is the Government doing to have CBK act like a central bank? First, control and embargo borrowing by the national Government. Secondly, set interest rates that can spur economic growth and so on. If you go to borrow money today, even as it is indicated here that it is 19 per cent, in fact, a borrower will pay about 23 per cent. If you are paying 23 per cent on borrowed money, for you to survive in business, you must make another about 10 per cent because 23 per cent goes to the lender. Unless you are a smuggler, there is no way you can survive in business with that kind of structure. What policies can we expect from the Government to reduce the escalation of interest rates? For example---"
}