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{
    "id": 494611,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/494611/?format=api",
    "text_counter": 59,
    "type": "speech",
    "speaker_name": "Sen. Billow",
    "speaker_title": "",
    "speaker": {
        "id": 260,
        "legal_name": "Billow Adan Kerrow",
        "slug": "billow-kerrow"
    },
    "content": "Mr. Speaker, Sir, we have seen that Statement and our Committee has looked at it but we are not satisfied. Treasury has actually failed this country because, pursuant to a presidential directive in February this year, they set up a team of experts including the private sector that came up with a formula that would result in lower interest rates. Today, there is no significant reduction. What we decided yesterday is to have the Minister appear before the Committee next week to shed light on the progress since that new formula was set up to address the concerns of Members. It is not only that, there are other topical issues linked to this one including the exchange rates. After the sovereign bond, instead of the rates going down when we got US$2 billion, the rates rose from US$87 to US$91. Therefore, I have requested to give an answer in two weeks time from today. In shaa Allah."
}