₦airaland Forum

blacksta:
If you have nothing to post  - read and move on  - The above makes no sense at all  - what deception or covert is going on.??

Remii:
Subject: So that you may know why Africa is behind the other world,


When you ask that question why Africa is behind, perhaps this is a good reason to reflect on, it just might explain it,  See below:




WHY AFRICA IS 25 YEARS BEHIND THE OTHER WORLD, ?



AFRICAN LEADERS & their age

AFRICAN LEADERS
Country
AGE in years

Abdulai Wade
Senegal
83

Hosni Mubarak
Egypt
82

Robert Mugabe
Zimbabwe
86

Hifikepunye Pohamba
Namibia
74

Rupiah Banda         
Zambia
73

Mwai Kibaki                 
Kenya
71

Ellen Johnson Sirleaf   
Liberia
75

Colonel Gaddafi             
Libya
68

Jacob Zuma         
South Africa
68

Bingu Wa Mtalika                       
Malawi
76

Average Age:                                     
 
75.6

Approximately                                       
 
76 years







THE OTHER WORLD LEADERS & their age

THE OTHER WORLD LEADERS
Country
AGE in years

Barrack Obama
USA
48

David Cameron
UK
43

Dimitri Medvedev
Russia
45

Stephen Harper
Canada
51

Julia Gillard
Australia
49

Nicolas Sarkozy
France
55

Luis Zapatero
Spain
49

Jose Socrates
Portugal
53

Angela Merkel
Germany
56

Herman Van Rompuy
Belgium
62

Average Age:                                     
 
51.1

Approximately                                   
 
51 years

proudly9ja:
A few weeks ago, the world woke up to protests in Tunisia fuelled by an act of self sacrifice by a University graduate fruit seller who set himself on fire after being harassed by the police. Thousands of youths organised themselves via social network site - Facebook to protest against the high rate of unemployment and economic downturn in the country. The protests moved from the internet to the streets as youths and opposition leaders joined forces to wrestle government from the hands of Ben Ali who had been ruling since 1987. Within days Ben Ali abdicated the seat and fled to Saudi Arabia, the Prime Minister took over and is now working towards a new government.

Fast forward a few days.

Again the world woke up to similar protests but now in the cities in Egypt, from Cairo to Suez, youths gathered together again using the power of the internet to join forces to protest against misrule and government's insensitivity to the plight of the people. Like it happened in Tunisia, Egyptians are asking that their leader Hosni Mubarak, who has been president since 1981, to step down and flee like his Tunisian counterpart. According to the NewYork Times,

"Protests led by young people entered a third day in Egypt, where Mohamed ElBaradei, the Nobel laureate who has become an outspoken opponent of President Hosni Mubarak, returned in hopes of galvanizing the campaign. The Muslim Brotherhood, long Egypt’s largest organized opposition, ended days of official inaction and said it would join the Friday protests, declaring “a day of rage for the Egyptian nation.”

As this is going on, Yemen a country close to Egypt has also gone to the streets today. This time, the protests are not orchestrated by youths but by the opposition leaders. However, the demand is the same, a change in government and an improvement in quality of life. Again quoting from the NY Times,
“To Jidda, oh Ali!” some shouted, in reference to the city in Saudi Arabia where Tunisia’s president fled this month. “The people’s demand is the fall of the government!”

“We are telling them either he delivers real political reforms or we’re going to deliver him out of power,” said Shawki al-Qadi, an opposition lawmaker and organizer of the Yemeni protests. “He’s closed all the doors of hope. The only glimmer is in the streets.”

I am glad that youths and generally, the so called masses in these countries are rising up to their responsibilities and knowing that we all are a part of government and we have the power to oust any government at the polls.
I await for the days we Nigerians will remove religious and ethnic sentiments to fight against oppression. The day we will wake up from our sleep and openly speak against government's insensitivity.
In Egypt, Christians and Muslims are gathering in mosques and churches. They are JOINING FORCES. They are no bickering against each other neither are they fighting each other. This is key. Question is, when will we as Nigerians get to this stage?

jamesugo:
I t is corruption that marred the determination to move forward in Nigeria Economy.This is because when the leaders got there, they concentrate on their selfish interest to get richer thereby losing the determination to move the country forward for development.
So i disagree with World Bank.

ideylaff:
My fellow NL members, look at it this way, looking @ Patience, you can tell she does not give GEJ any more BJ's since she is busy with state affairs and getting older by the day as well.

GEJ needed to freshen up his sex life and so was advised to bring in someone with experience of looking after Older people.

IN the middle of the usual late night Aso Rock SUYAING AND PEPPERSOUPING her name was dropped and there you go,  "Fimile Baby Fimi Le"

Your new Diaspora Ambassador,  Yellow just like Oyinbo, 

Expect Facebook SSA as well very soon, 

Awon Oloshi Gbo Gbo,

NB/POC as per your post above: @Ma_J_Blige , weda na Minista or na Senior Special Adviser or Advisor or SSA, or SSAX 2>>>>> all of dem na de same, cos dey do F >>>>k alll now and get padi fpr norin norin, LOL

Abi I lie,

soldee:
First-lady-in-waiting



Jona don go learn Chess o

donjon:
Why u dey tink reach dat angle na?
because she yellow?

Jen33:
Aigbofa said:

Err, actually we are quite strong enough for the region we find ourselves in, with the financial capacity to expand capabilities in a short time where required. Surely you're not suggesting we spend even more on defence than we're currently doing (assuming of course you actually know the annual defence expenditure of our country).

Jen33:
In his newspaper column in Thisday Magazine, Nigerian foreign minister Ajumogobia said Gbagbo "must be made to understand that there is a very real prospect of overwhelming military capability bearing down on him and his cohorts." 


http://www.voanews.com/english/news/africa/Nigeria-Wants-UN-Backing-for-Military-Intervention-in-Ivory-Coast-114510399.html


These guys are starting to sound like Americans. 

Katsumoto:
Ok, carry on with the condescending tone but at least answer the question, 'are you stating that raising funds through bonds is fiscal irresponsibility on the parts of the governments that do so?' If that is your arguement, then please state why you hold such a view. The 'someone powerful somewhere' theory is intellectual laziness.

You listed a few countries that have/had issues with bond issues and repayment. Start by telling us how they were short-changed.

Where was the Money Invested The Public does not know? Our govt unlike the Asian countries refuse to tell us.

Katsumoto:
Let me have a go at what you are having difficulty explaining. With QE2, there were fears that extra cash from the US would find its way to the stock markets of emerging countries in Asia and Latin America. What has emerged however, is that Asian countries are showing signs of higher inflation, rising interest rates, and slowing growth but this is because Asian countries have had near double-digit growth in the past couple of years while the rest of the world was struggling. Contrast that with demand for high-yielding assets in Latin America. See emergingmarketmonitor.com and FT.com for more information.

Now having said that, that position is different for bonds because unlike the stock market, a country requests the extra cash that goes into its economy through the bond issue and as such, it is the responsibility of that country to ensure that it can deal with the inflation that may arise from the extra liquidity which is not the case for additional liquidity through direct foreign investments in the stock market. WHen a country fears that additional liquidity from foreign sources can cause inflation issues, it can introduce some kind of tax to limit such liquidity similar to what Brazil did after QE2.

babaogun:
@DeeJay20:
Please explain to me how the BRIC nations got their fingers burnt!!!
Thank you in advance.

babaogun:
@DeeJay20:
So what do you think is getting their fingers burnt?

Me thinks they were borrowing too much and not necessarily the use of EuroBonds.
Italy is 7th largest economy in the world in GDP terms and they have borrowed more than 115% of GDP. Italy still raised 12bn Euro in December 2010.

Nigeria is one of the least leveraged countries (<20% of GDP) in the world unlike all the countries you listed who are borrowing at close to or even more than their GDP.
We are aware of the terms and conditions and this borrowing does not interfere with our sovereignty. We only have problems if we can't meet up with payments.

Katsumoto:
I am not following your argument any more; are you suggesting that it is wrong for governments to raise funds through bonds?

and please drop the condescending tone; it doesn't make your argument any more intelligent.

babaogun:
@DeeJay20:
Do you mean to say Brazil and Russia have not issued EuroBonds?

mrjingles:
Kulutempa I've read the link but you miss my point. I am referring to using the CAPM to value government bonds not corporates, the govt bond your trying to value is itself the rf rate-circumlocution. Besides, the major weakness of CAPM is the belief that it can be used to value ANY asset while in practice it lends itself only to equities because the beta of a bond (corporate or sovereign) would be difficult to determine since the market portfolio for bonds has no representative index.
The reason is that bonds mostly trade over the counter and given the myriad issues of bonds, constructing a market portfolio would be too expensive to be worth it. The inability to observe and measure a true market portfolio is the reason why it is used mostly to value equities due to the ease of using a stock index as a proxy for the market portfolio.

CAPM assumes you can value ANY asset with the model (including real estate, commodities etc) but this is clearly impractical for same reason you cant use to value bonds- observing and measuring the market portfolio is impractical. Lets separate theory from realistic applicability.

Why go through the pain of valuing bonds with capm when better and more reasonable approaches abound. Better use a YTM or relative price approach than using a an appraoch that looks good on paper but cannot be applied in practice.

ENZO SCIFO:
@Kulutempa
hmmm interesting read though I have my reservations about the source. Lets leave that for now at least until oga Deejay, goes away. te guy seems to be spoiling for a fight fromany and every corner.

Will be here again in about 2hrs-3.
nice meeting you.

@ Deejay don't come and wait for me o!

kulutempa:
One more thing.  The writer of that FT article is obviously clueless as far as his knowledge of bond yields is concerned.  The coupon rate is the interest rate the bond initial pays on issue and it is given in the name of the bond.  So the Ghanaian 8.50% 10 year sovereign bond, would have a coupon of 8.50% if you bought it when it was first issued in September 2007, before its price began to fluctuate in the bond market.  After a bond has been successfully issued, its price begins to fluctuate in the secondary bond market in response to the market forces of supply and demand and as the prices changes every day, so does the yield which depends on the prices paid for the bonds.  This is what is known as the running yield and it is completely different from the coupon rate.   I am really surprised that  a writer for a reputable financial publication like the FT could have made such a fundamental error by comparing the running yield on the Ghanaian 10 year bond to the coupon rate on the newly issued Nigerian 10 year bond.  It is simply inexcusable even for a first year finance undergraduate.

babaogun:
Lagbaja and Last Samurai, you guys need to cool tempers and make the audience profit from your intelligent argument.

I personally believe you can compare oranges with apples, though I recognise you need to put each in its perspective.

Asides political risk and fiscal mismanagement affecting Nigeria, Ghana's Eurobond of 6.2% is 3 years old. Global financial situation in 2007 is different from 2011.

kulutempa:
Mr Jingles, if there is one thing I don't like it is people making bare assertions without any evidence to back it up.   The return required by debt  (bond)holders is found by applying the CAPM, as it is the basis of an analysis of the cost of debt capital.  Enquiring minds may want to read more about the subject on this link:   http://www.quickmba.com/finance/cf/  and in particular this statement in the paragraph headed Cost of Capital:

The cost of capital is the rate of return that must be realised in order to satisfy investors. The cost of  debt capital is the return demanded by investors in the firm's debt; this return is largely related to the  interest the firm pays on its debt.

Dissenting minds should provide their evidence to the contrary, or forever hold their peace.  Thank you.