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Ghana Looks To IMF For Salvation As Cedi Falls By 40% - Foreign Affairs (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Ghana Looks To IMF For Salvation As Cedi Falls By 40% (24131 Views)

Angola, Hit By Collapse Of Oil Prices, Seeks IMF Aid / Ghana Finally Runs To IMF For Financial Aid As Economy Crumbles - BBC / Ghana's Cedi Is Now Almost Equivalent To The Dollar! (2) (3) (4)

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Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 3:43pm On Nov 04, 2014
maylisa:
thanks dear grin

Not so fast but lemme have your pin.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by GHKWAME1: 3:47pm On Nov 04, 2014
MadCow1:

Look at this Aponchi...
Bloody indeed. grin
Go wwank yourselves to death with hot Shitto
you flaming fairy Ghanaian... grin
You may wanna spend more time fixing your
Economy than focusing on Nigerians..
Have you eaten today? grin

4 Likes

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by GHKWAME1: 3:52pm On Nov 04, 2014
adorable29 :


Hahaha! Talk about the devil!
You are innocent
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 4:10pm On Nov 04, 2014
caprini1:
This is not a laughing matter,things are really hard in Ghana.We should wish them well,I have jnr ones schooling there and its not funny.I don't enjoy going to ABC transport to mail indomie and Golden morn again o.
It's that bad?
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by mymz(f): 4:41pm On Nov 04, 2014
Why won't the cedi fall? when your economic policies are in contradiction with one another.

So in '07 you re-denominated the cedi to cushion the effects of devaluation and help grow your economy thus, 1cedi became equal to $1
then you implemented a banking policy of not paying in foreign currency when receiving money from western union or moneygram so as to increase demand for cedi.

But your educational system being one of the strong pillars supporting your economy thrives on heavy foreign currency investment because you mandate foreign students to pay in dollars thereby creating a demand for dollars.
Even your property/real estate laws do nothing to condemn property owners that charge in dollars. So much so that even some shops in certain 'highbrow' areas in Accra like Osu, labone and the almighty Accra mall, actually charge in dollars.

and then when west African investors come in, you bill them to high heavens (most times in dollars) instead of settling for barter contracts that will benefit each country, engender economic exchange that will create jobs, stabilize your currency and in turn, economy

All of these creates a demand for dollars, devaluing your cedi even more, but you don't spend dollars as a nation.
Now you run to IMF. Ghana like Europeans eh kai! grin

All the bailouts in the world won't be sufficient if you have person myopic policies that creates demand for foreign currencies thereby devaluing yours.

John Dramani Mahama is (by all accounts) a very clueless president..... but then, it's really none of my business.

Seriously, what's the conclusion on that kpomo ban?

14 Likes 1 Share

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 4:48pm On Nov 04, 2014
iamord:


A lot of you Nigerians are so naive and know absolutely nothing about ghana. Absolutely nothing!!!. A lot of yall act like u are living in villages and receive news through town crier!! Ghana having issues now makes some glorified literates feel like economist and advisers . If you guys know any better why don't you use the same brain and zeal you use on ghana issues to solve your internal issues already Just look how people feel so happy about the news, it just goes to show the envy and hate a lot of you have had in your hearts towards ghana and ghanaians.. This is why blacks are taken as shit all over.. You measure your strength by the weakness of neighboring countries. And u feel you are any better.. Forgetting you are always in the news for one shameful act or the other..and your economy is also a shi.thole. you feel you situation is much better cos the once praised ghana is now in economic problems.. Ego personified morons!!!

Sometimes I regret coming from West Africa. Why do we hate ourselves so much!

I am Nigerian but I am down here with my ghanian homie in amsterdam chilling in a coffeeshop smoking the dopest spliff. Chill out guys. smiley

6 Likes

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by JayJustus(m): 5:10pm On Nov 04, 2014
egift:
1 Ghana Cedi = 52 Naira shocked

nigga currency exchange doesn't really play much of a role only to an extent...
1 naira = 7 Korean won...but tell me what you can buy with 1000 won in Seoul??

1 Like

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by JayJustus(m): 5:29pm On Nov 04, 2014
iamord:


A lot of you Nigerians are so naive and know absolutely nothing about ghana. Absolutely nothing!!!. A lot of yall act like u are living in villages and receive news through town crier!! Ghana having issues now makes some glorified literates feel like economist and advisers . If you guys know any better why don't you use the same brain and zeal you use on ghana issues to solve your internal issues already Just look how people feel so happy about the news, it just goes to show the envy and hate a lot of you have had in your hearts towards ghana and ghanaians.. This is why blacks are taken as shit all over.. You measure your strength by the weakness of neighboring countries. And u feel you are any better.. Forgetting you are always in the news for one shameful act or the other..and your economy is also a shi.thole. you feel you situation is much better cos the once praised ghana is now in economic problems.. Ego personified morons!!!

nigga you need to calm your tits da hell down...when Nigeria has problems Ghanaians laugh the living stock outta us...why are you now so butthurt ?? what goes around comes around like a hula hoop... and you said our economy is a shit hole?? I cannot but LOL tho...nigga the GDP of Lagos alone is greater than the entirety of Ghana...need I say more?? Nooo... *my mummy is calling me in the kitchen she said my flight to Ghana is in two hours* so wait for me at the airport I'd be distributing rice and ororo... you can make jollof with it... (in Ghanaian accent)

5 Likes

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Smooyis(m): 5:42pm On Nov 04, 2014
I do hope the bad economy in Ghana is not as a result of acute corruption in high places as in Nigeria.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by bercarray(m): 5:44pm On Nov 04, 2014
IAMGEJ:
Must you pple compare? We are all africans!!!!!!
Na wa o,
yes we are all africans, bt dat doesnt mean we are avn d sametn in common,and come to tnk of it,we are suppose to be beta dan them wit our naira value bt no, y? Our leaders
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by bercarray(m): 5:54pm On Nov 04, 2014
Godmother:


And how does being better than Ghana change the price of garri in the market or solve our employment problem in Nigeria. You had better channel your wish pattern to more productive things
well maib i shd interprete what u had jst said,which is to say nigeria's employment cant be solved,cos i see no reason y employment prob cant be solved if we are better far better dan them,stable lights attract industries
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 6:12pm On Nov 04, 2014
Smooyis:
I do hope the bad economy in Ghana is not as a result of acute corruption in high places as in Nigeria.

The recurring problem with the Nigerian economy and the present situation with the Ghanian economy is endemic to Africa.

It is high time we realise that taking IMF and World Bank loans does not solve the problem rather it prolongs it and ropes us into future debts. We need to look inwards for a solution.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by maylisa(f): 6:26pm On Nov 04, 2014
drlawizle:


Not so fast but lemme have your pin.
lols funny you
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by maylisa(f): 6:32pm On Nov 04, 2014
JayJustus:


nigga you need to calm your tits da hell down...when Nigeria has problems Ghanaians laugh the living stock outta us...why are you now so butthurt ?? what goes around comes around like a hula hoop... and you said our economy is a shit hole?? I cannot but LOL tho...nigga the GDP of Lagos alone is greater than the entirety of Ghana...need I say more?? Nooo... *my mummy is calling me in the kitchen she said my flight to Ghana is in two hours* so wait for me at the airport I'd be distributing rice and ororo... you can make jollof with it... (in Ghanaian accent)
guy you get bad mouth o. Do you want some people to die of heartAche? Easy bross

1 Like

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by bercarray(m): 6:36pm On Nov 04, 2014
76Naira:


It would be better to look at things from the perspective of regional growth stagnation.
Nigeria and Ghana are more like flag-bearers for the Ecowas zone with thriving economies and strong foreign alliances.
With this economic challenge for Ghana on the front burner coupled with the Ebola challenge ravaging Guinea, Sierra Leone and Liberia, as well as the political instability in Burkina Faso, the Nigeria rise in GDP, FDIs and Remittances doesn't necessarily translate a comprehensive regional growth.

Do not forget that these countries constitute our closest export market for made in Nigeria goods. They are also the ones with the least stringent conditions. Ultimately, the stability and growth of Ecowas countries would mean a stronger market for Nigeria; a situation every Nigerian should be hopeful about.
, yea i ruite agree wit d fact dat rise in gdp doesnt translate regional growth,but d last paragraph I dnt. Cos since wen av we bn exportn,na 2dai?? It's bn long sir,and wit dat tns are only changin to favour d rich ones not d youths,and i tnk what we now xport more is petrol,and 4 u to be a petrol or oil tycoon,u knw wht dat requires,xo we youth what shd we be hopeful abt.pls reply i want to knw
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 7:44pm On Nov 04, 2014
maylisa:
lols funny you

Come on.. smiley
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Collynzo29: 7:52pm On Nov 04, 2014
MadCow1:



1 Ghana Cedis = 10,000 Ghana Cedis (before the re-denomination)

So Therefore

52 Naira = 10,000 Ghana Cedis..

grin
Which means 1 Naira = 192 cedis in actual sense.
Egift the APC paid online thug leave economics alone please.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by highmood(m): 8:41pm On Nov 04, 2014
iamord:


No sense
I didn't type it for ur applause. Its a freedom of expression, so say what you want to.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 9:52pm On Nov 04, 2014
Really? so how is this topic nigeria-related?
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 10:00pm On Nov 04, 2014
PhockPhockMan:
Taaaaaaaaaahh, Sharaaaaaaaap there. We're here brainstorming on how to rescue your mushroom country out of imminent total collapse, you're here making noise.
hahahaha rescue who? is it a joke or something? are you not supposed to be thinking about rescuing millions of your fleeing refugees who are now a complete nuisance in neighbouring countries? hehehehe fuckeduppedness grin grin grin

1 Share

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by bhidex007: 10:08pm On Nov 04, 2014
Cool news I must say, that is the result when you tend to assume regional power and you are not actually up to the task yet, you are all coming back to sow our shoes again like your ancestors did. cool
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by mikron(m): 10:20pm On Nov 04, 2014
And they said their money is better than ours, IMF don dey open their nyansh, I pity them sha. E go better.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 10:33pm On Nov 04, 2014
bhidex007:
Cool news I must say, that is the result when you tend to assume regional power and you are not actually up to the task yet, you are all coming back to sow our shoes again like your ancestors did. cool
the last I checked there was only one country where its citizens were feeding from the dustbin. and it wasn't Ghana! grin
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 10:41pm On Nov 04, 2014
mikron:
And they said their money is better than ours, IMF don dey open their nyansh, I pity them sha. E go better.
fuckeduppedness grin you pity Ghana? and what about those 300 girls still missing in sambisa forest? and the 90% of your citizens who survive on less than $2 a day. you should reserve your pity for them,huh? heard millions of your country people have fled their homes and are refugees. grin the picture of millions of distraught people fleeing was quite dramatic and very pitiful. don't you think so? grin

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by zappyj(m): 10:45pm On Nov 04, 2014
PetroDolla3:
fuckeduppedness grin you pity Ghana? and what about those 300 girls still missing in sambisa forest? and the 90% of your citizens who survive on less than $2 a day. you should reserve your pity for them,huh? heard millions of your country people have fled their homes and are refugees. grin the picture of millions of distraught people fleeing was quite dramatic and very pitiful. don't you think so? grin

You don't want to go there loser! With all our problems, your total economy isn't half of what Lagos alone boasts of.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Horus(m): 10:58pm On Nov 04, 2014

https://www.youtube.com/watch?v=D1-jHdv2D14

[size=15pt]Rescuing Ghana's Cedi[/size]
The Ghanaian currency, the Cedi, in 2014 has already depreciated by about 3 % against the major international currencies. In 2013, the local currency suffered 17 % depreciation. The Central Bank has outlined measures intended to fix this but those the fast depreciation of the currency has already affected have to deal the problems that have come with it.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 11:12pm On Nov 04, 2014
zappyj:


You don't want to go there loser! With all our problems, your total economy isn't half of what Lagos alone boasts of.
hahahah I want to go there oooh. Our total economy isn't half of lagos? so how come people eat from the dustbin in Lagos but don't do that in Ghana? how come life expectancy is a miserable 45 years in Lagos and 64 iin Ghana. how come 120 million of your impoverished people don't have electricity whereas 70% of Ghanaians have power? what is the maternal and infant mortality rates in lagos as compared with Ghana? how many people in your lagos are gainfully employed? I am not talking about kidnappers, armed robbers and pr0stitutes grin the same lagos where grown up men -supposedly engineers were fighting over leftover fanta. hahahahaha do you know the numbers of calls I get every day from desperate nigerians wishing to relocate to Ghana? grin grin grin grin

1 Like

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 12:37am On Nov 05, 2014
Hahahahaha. Ah no talk am?? Where them dey? tongue
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 12:41am On Nov 05, 2014
Gbam!!!"
MadCow1:



[b]Yes...


1 Ghana Cedis = 10,000 Ghana Cedia (before the redenomination).. So Technically, the value is the same..

Now when I lived in Ghana, the Highest exchange rate the Dollar ever reached against the Cedis was 100 Dollars - 1.4 Million Cedis (140 GHC)..

But today, the Exchange rate is 100 USD = 328 GHC (3.28 Million Old Ghana Cedis).. That explains why their currency is in trouble because they are actually getting worse and worse..



The Cedis you see today was created recently after they divided all their currencies by 10,000.. So 10,000 Cedis Note became 1 Cedis.. So 1 Cedis was still buying what 10,000 Cedis was buying.. They only fooled themselves, not Market economics.

So though the numbers look like they are doing better than the Naira, multiply that figure you see by 10000 to get the actual original value of the Cedis..


Ghana would soon come running to Nigeria again as refugees... Thats why I have invested all my Money into this business;




[/b]
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 12:50am On Nov 05, 2014
My friend shatap angry. Before you open your mouth to talk b4 nigerians,go and ask for cleansing from the gods.Then you do some researchs
PetroDolla3:
hahahah I want to go there oooh. Our total economy isn't half of lagos? so how come people eat from the dustbin in Lagos but don't do that in Ghana? how come life expectancy is a miserable 45 years in Lagos and 64 iin Ghana. how come 120 million of your impoverished people don't have electricity whereas 70% of Ghanaians have power? what is the maternal and infant mortality rates in lagos as compared with Ghana? how many people in your lagos are gainfully employed? I am not talking about kidnappers, armed robbers and pr0stitutes grin the same lagos where grown up men -supposedly engineers were fighting over leftover fanta. hahahahaha do you know the numbers of calls I get every day from desperate nigerians wishing to relocate to Ghana? grin grin grin grin
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 12:57am On Nov 05, 2014
Shhhhhhhh. Keep quiet.People are discussing sad
GHKWAME1:

Why copy to @iconize? You can't stop being a pvssy and fight your own battles?

A president who begged for Ebola Vaccine,
begged for Intelligence to combat boko haram,
begged for arms,

Nigeria in China, Seeks $3bn for Agric,
Rail, Airport Projects. Source: http://
www.thisdaylive.com/articles/nigeria-in-china-
seeks-3bn-for-agric-rail-airport-projects/109828/



The World Health Organisation has identified
Nigeria as the country with the highest figure of
poliomyelitis cases in the world.
The World Health Organisation Country
Representative in Nigeria, Dr. David Okello,
disclosed this in Lagos on Saturday, at the
installation ceremony of the new District
Governor of Rotary International District 9110,
Dr. Kamoru Omotosho, for 2012-2013.
Okello, who noted that Nigeria was ranked
alongside two other countries, Pakistan and
Afghanistan, which are still grappling with the
problem.
According to him, “Indeed Nigeria is now the
largest contributor of global polio burden -nearly
60 per cent. Nigeria is also the only country in
the world to have all three types of polio virus —
Type 1, Type 3, and circulating vaccine-derived
Type 2 viruses."

He explained that the transmission of the
disease in Nigeria poses a real threat to the
global polio eradication effort.
Giving further statistics, he stated that of the 49
cases reported in the country currently, “two-
thirds are from four particular sanctuaries — the
northern states of Borno, Kano, Sokoto and
Zamfara.”
He, however, commended the concerted efforts
of Rotarians worldwide at eradicating the
disease as well as committing their expertise
and resources to improving the welfare of
communities.
http://www.channelstv.com/home/2012/07/08/
nigeria-is-the-worst-hit-polio-nation-who/

grin grin Nigeria and Ghana no be mates



Product of a failed education system, brainstorming on what? Your overbloated GDP is dependent on oil, there is no economic genius in that your polio infested dump! Very soon, y'all will drink your oil.





The US for the first time
failed to import a single barrel of crude oil from
Nigeria in July 2014. This troubling scenario,
according to industry watchers, would not augur
well for the Nigerian economy, which is highly
dependent on revenue from oil. Nigeria, Africa’s
biggest crude exporter, depends largely on crude
proceeds to service over 85% of its budget.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by caprini1: 4:52am On Nov 05, 2014
CFCfan:

It's that bad?
it is really very

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