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{
    "id": 941366,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/941366/?format=api",
    "text_counter": 282,
    "type": "speech",
    "speaker_name": "Sen. Cheruiyot",
    "speaker_title": "",
    "speaker": {
        "id": 13165,
        "legal_name": "Aaron Kipkirui Cheruiyot",
        "slug": "aaron-cheruiyot"
    },
    "content": "Thank you, Mr. Deputy Speaker, Sir. I rise to oppose this Motion. This is a sad day for Kenya. The National Assembly opened floodgates of local interest rates and the Senate wants to auction Kenyans to international loans sharks. Such situations will make many Kenyans to ask God the reason as to why they were born in Kenya when they get to Heaven. It is extremely difficult to see what is happening in our country. It is also difficult to see that we, the leaders who are supposed to save them, agree with the people who are causing their suffering. We must not give up. Those of us who believe that we must always do right at all times despite enormous pressure and temptations must hold our fort this afternoon. I urge my colleagues to follow through the seven points that I want to lay before this House on the reason as to why no Senator should support these regulations in their present form. First, we have the level of debt. A number of information has been put forth before this House on what our level of debt is as a country. According to the figures that were presented before our Committee as at 30th June, 2019, we were at Kshs5.8 trillion. We requested that we be issued with a debt register. We calculated and tallied the list of loans that had been presented before our Committee. Sen. Farhiya was seated next to me. She is the one who did the tallying with me on her calculator. We found out that those loans were totaling more than Kshs7.5 trillion. Therefore, it is not true in the first instance that we are at Kshs5.8 trillion. Mr. Deputy Speaker, Sir, the second piece of evidence is that Central Bank publishes its weekly review of how the economy is performing and one of the indicators they put forth is the level of debt in this country. This is their report for this week. One of"
}