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{
    "id": 496552,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/496552/?format=api",
    "text_counter": 59,
    "type": "speech",
    "speaker_name": "Hon. Wangwe",
    "speaker_title": "",
    "speaker": {
        "id": 2543,
        "legal_name": "Emmanuel Wangwe",
        "slug": "emmanuel-wangwe"
    },
    "content": "has taken cognizance of two major things. There is the issue of the monetary convergence and fiscal convergence. If it takes ten years from now to come up with the full implementation of the Monetary Union and a single currency, this means that Kenya will no longer rely on one central bank, but will have to bring on board the entire economy and make both monetary and fiscal policies for the entire region. Once this is possible, it is going to make the economy very vibrant and make consumption of the people stimulate demand. I also want to take cognizance of the infrastructure development that is going to come along with it. The integration process between Kenya and the East African partner States is going to link the five partner States. When you look at the LAPSSET project, the Northern Corridor and the growth of airports like Jomo Kenyatta International Airport, we can only bring them together and meet the demand if we integrate and have a common currency. It is going to be beneficial because somebody from Burundi will not need to change currency, so as to enjoy facilities in Kenya. At the same time, we have localized and Kenyan goods can go to Burundi and we do the same. This is a very nice idea. I would request that this House adopts and accepts the Report as it is. I beg to second."
}