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{
    "id": 990781,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/990781/?format=api",
    "text_counter": 341,
    "type": "speech",
    "speaker_name": "Lugari, ANC",
    "speaker_title": "Hon. Ayub Angatia",
    "speaker": {
        "id": 2153,
        "legal_name": "Ayub Savula Angatia",
        "slug": "ayub-savula-angatia"
    },
    "content": "and the Government may in the current financial year not be able to meet its loan obligations; (b) inserting the following paragraph immediately after paragraph (c)- (d) That, the Government of Kenya should urgently engage multilateral and bilateral lenders with a view to renegotiate loan obligations, with emphasis on waivers of interest and extensions on the repayment period, as well asking for total waivers on some of the loans so as to free up money to enable the Government to contain the spread of the pandemic, cushion Kenyans against its social and economic effects, and address economic impact of the pandemic. My amendments to the Motion by the Leader of the Majority Party are pegged on the following facts: One, the revenue collected by KRA is going to drop because the economic activities are low. Two, after we pass the budget as the National Assembly, it will go to the President for assent. After the President signs the warrant for expenditure of the cash, the first charge by the Treasury is to pay loans. I thank the Leader of the Majority Party for the noble idea of bringing this Motion, so that we can discuss as Members of Parliament and find a way on how to cushion our economy. The main loans are from the Chinese Government. COVID-19 is a global pandemic, the Chinese Government should agree we renegotiate the terms and conditions of the loans, so that we save the economy of this country. The President sat with Chief Executive Officers (CEOs) of Banks and they agreed to restructure loans for Kenyan individuals and business men who are doing business. The international community, China included, must also follow suite. I want to ask the CS Treasury to move quickly after we pass this amendments, so that we can save the country’s economy. I beg to move and request Hon. Osotsi to second."
}