5 Nov 2019 in Senate:
Mr. Deputy Speaker, Sir, in terms of the East African Community (EAC) Monetary Unit Protocol, these are treaties that we have signed as a country. It is
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5 Nov 2019 in Senate:
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5 Nov 2019 in Senate:
unfortunate that despite the fact that we are signed on to keeping our borrowing at 50 per cent of net present value, already even as it stands today, we have passed that ceiling. The reason why the EAC has never successfully integrated is because of our behaviour as Kenyans. Each time we go to Arusha, we set up beautiful meetings where EAC Heads of States sign protocols, but we come back to Kenya and believe that somehow we can only follow those rules in so far as it favours us, as a country. However, at a particular time, when we ...
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5 Nov 2019 in Senate:
Mr. Deputy Speaker, Sir, you know very well that in matters to do with law, you either comply fully or you do not comply. You cannot appear before a judge and argue that: “Because I have followed all the other nine laws, permit me to break this particular law.” If Kenya is serious and if, indeed, we are the big brother as Sen. Pareno has said, then it is incumbent upon us to respect each and every EAC Treaty that we have entered into and signed as a country. This is one serious one. If we violate it, we shall ...
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5 Nov 2019 in Senate:
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5 Nov 2019 in Senate:
little about. There is no multi-lateral lending institution that would do the kind of thing that the Acting Cabinet Secretary is proposing and telling us as a country to do. They are in business just like any other institution. To be misled, the way we are being misled is not proper. Therefore, I put it to my colleagues that multi-lateral lenders----
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5 Nov 2019 in Senate:
Mr. Deputy Speaker, Sir, the point that I was making is that multilateral lenders do not undertake debt restructuring. Rather, what they do is that they fund specific projects like the Standard Gauge Railway (SGR), a particular road or factory. That is the kind of business that they are in. However, they are not in the business of buying off bad debts from people who cannot manage their economies like Kenya. T
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5 Nov 2019 in Senate:
No, Mr. Deputy Speaker, Sir. I would wish to hear from the teacher who misled Sen. Murkomen.
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5 Nov 2019 in Senate:
Thank you, Mr. Deputy Speaker, Sir, for disowning your student. The point that I was making in concluding is that, the thing that multilateral lenders would do is to fund specific projects. This is something which, we, as a Committee, pondered about and said we would be so happy about. Mr. Deputy Speaker, Sir, just allow me a minute to wrap up my thoughts.
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