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{
    "id": 983725,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/983725/?format=api",
    "text_counter": 90,
    "type": "speech",
    "speaker_name": "Sen. Farhiya",
    "speaker_title": "",
    "speaker": {
        "id": 13179,
        "legal_name": "Farhiya Ali Haji",
        "slug": "farhiya-ali-haji"
    },
    "content": "As you are aware, this pandemic has had a very huge impact on the world economy. I wanted to bring a Statement to that effect but now that we will adjourn, I will not have that opportunity. Therefore, I will use this opportunity to address it. The International Financial Institution (IFI) has warned that the global economic growth will drop to 1 per cent as compared to 2.6 per cent in a similar period. As a result, countries that are developing or emerging economies will be challenged in terms of repayment of their debts because you can only generate revenue when you are productive. In terms of the lockdown we are currently experiencing partially or maybe total lockdown that we anticipate in case this pandemic continues to escalate, the ability of our Government to service external debt will be impacted. It would have been good if the National Treasury or the Central Bank of Kenya (CBK) would have written requesting a grace period during this time as well as holding of interest. This is because as the interest continues to accumulate, by the time we get through this pandemic, we will become bankrupt. Maybe poverty will kill much more people than the pandemic itself. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}