John Sakwa Bunyasi

All parliamentary appearances

Entries 931 to 940 of 1058.

• 24 Mar 2014 in National Assembly: Yes. view
• 24 Mar 2014 in National Assembly: Thank you, hon. Temporary Deputy Speaker for giving me this opportunity. I am generally in favour of the Kenyan Government entering the The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor. view
• 24 Mar 2014 in National Assembly: international money market, and I think this is a positive step. It has advantages compared to the domestic market, as it was mentioned. One of the advantages is that it requires a country to have a certain behaviour in the way it manages its commercial risks domestically and externally. It will mean that it will be reported how we handle our commercial partners both here and outside as we establish our credibility. view
• 24 Mar 2014 in National Assembly: That is a side benefit that will enhance the way we deal with partners. For example, you know the challenge we are now facing with Anglo Leasing. Much as the mood is that we should not be honouring debts that are borne out of corrupt deals, if we are going to the international market, we will not be able to proceed without clearing one or other obligation in a way that is satisfactory. view
• 24 Mar 2014 in National Assembly: Hon. Temporary Deputy Speaker, I think there are two separate things I would like to tackle. One, we talk about changing the law to enable us to play in this international game. That is quite different from the merits or demerits of the international sovereign bond we are trying to float. Let us not mix the two. I know there is pressure because we need the law to be in place to be able to go to the market and raise the money that we need. view
• 24 Mar 2014 in National Assembly: Two, I think we should clarify that interest rates are not just high because of Government borrowing. It makes it worse but it is not the only cause. There are very many other causes. A lot of them are domestic also. So, we need to address them. view
• 24 Mar 2014 in National Assembly: As our Chairman said, when the time comes and we begin dealing with interest rates through some committees of this House we shall go to the bottom of it. There are very many other issues to which the domestic Government borrowing is a contributor, but we do not even know whether it is a major contributor to the interest rates. Clearly, if the Government was borrowing less it would reduce pressure; but even if it borrowed zero it does not mean that interest rates would fall to levels that are comparable to those of New York and other places. Secondly, ... view
• 24 Mar 2014 in National Assembly: I think that the Government could use this opportunity as it begins to open this window to allow us to be players in the international sovereign bond market. It should also look at its own external debt management strategy, which relates to the commercial transactions, Government to Government arrangements and Government and international markets. This is so that we can harmonise this, synthesise it and be sure that we know what is happening both as the Government, or its entities can borrow. When we have contingent liabilities incurred by institutions based in Kenya, the reputation of the Government could be ... view
• 24 Mar 2014 in National Assembly: Turning now to the issue of this sovereign bond that is going to be floated and for which we need these laws to be in place for it to take place, I cannot buy the story that we are going to go to the international market, borrow Kshs130 billion and you want to come back and retire Kshs52 billion out of it. I do not think that, that is really a credible argument. However, I think that we need to close the financing gap by this international borrowing of Kshs130 billion. Let it be used one way or another. I ... view
• 24 Mar 2014 in National Assembly: is because that is not how a government allocates resources at a time of tightness as is now. view