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{
    "id": 941606,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/941606/?format=api",
    "text_counter": 522,
    "type": "speech",
    "speaker_name": "Sen. Linturi",
    "speaker_title": "",
    "speaker": {
        "id": 69,
        "legal_name": "Franklin Mithika Linturi",
        "slug": "franklin-linturi"
    },
    "content": "The Motion before us is a very important Motion for this country. I want to use very elementary language to demonstrate the reason as to why it is important to borrow money. We borrow money to increase our working capital for us to do business. We borrow money or restructure debts for us to create capital by expanding the period by which we are supposed to retire those debts for us to meet the immediate business needs so as to have a healthy environment to do business. This Motion is coming at a time when everyone in this country is crying. Everybody can feel the economic pain that we are going through. Lack of money is evident. Those of us who have had the benefit of walking into a bank to borrow some money know that bankers ask few questions when you want to get some finance, but the most critical one is your ability to finance the repayment of that particular debt. They also ask for the things that you are going to do with the money that you are asking for. Mr. Deputy Speaker, Sir, in my view, if we are borrowing money to do projects for the good of the country and with returns, putting in money that will stimulate the economy to the extent that we will be able to raise more revenue to support the repayment of the debt, that kind of debt would be prudent in such circumstances. I have heard many Members say that when the National Treasury appeared before the Committee, they did not satisfy the Committee in terms of what the money was supposed to do and how it would be repaid. In the absence of such information, it would be completely wrong for us, as the people’s watchdog--- It would be an act of irresponsibility on our part---"
}