₦airaland Forum

Mkenya2019:
Alaro, Tatu and Apolonia are all by the same developer - Russian Rendeavour - part of Moscow's Renaissance Capital. Only Tatu city seems to be going on well. Alaro and Apolonia are not doing well. Tatu city 2,500 is already all sold out. Now they are selling the next 2,500.

Appolonia has more development than Tatu

Mkenya2019:
You should see a shrink urgently.

You need a kid to educate you

better still, you have to be locked up in a mental institution

Tantrums of a dog

usually has no sense

Mkenya2019:
Bla de bla of a goat.

The funds holds a total amount of near 20 billion dollars

Ghana will being afloat for a long time to come.... Your country does not have any saving from anywhere that will help keep kenya from bankruptcy...... For now, Ghana negotiation powers has kept you guys from defaulting badly

Use the grace period wisely and start using borrowed money on productive stuff that will generate money

rvp20182:
Free reading from your bank of ghana

https://www.bog.gov.gh/wp-content/uploads/2021/07/Semi-Annual-Report-H2-2019-Public.pdf

Before Covid - it was 500M for Heritage and 300m for Oil stabex.

As we speak - its probably been emptied.

You really keep showing how backward an education in Kenya is

No wonder your certificates dont take you anywhere

Again, that is the amount of the fund in 2011

Mkenya2019:
YEAR OF ESTABLISHMENT - the table is clear enough. How did you even manage to login to Nairaland.

Nobody has embarrassed her country like you continue to do to Ghana

Mkenya2019:
2011 is the year the fund was FOUNDED or started. That was of 2020. I bet by now you have exhausted it.

that is the amount that was in the fund as at 2011

get proper education so that you will find it easy ready a chart

Mkenya2019:
Nonsense. Throwing figures carelessly. Before you withdrew from it.

dumb kid

this is the total amount of money that entered the two funds and retained in 2020 from petroleum proceeds... next time read well

Mkenya2019:
As of 2020 - before you withdraw everything - it was mere 500M dollars

Di you even watch the picture you posted?



something from 2011

you are so desperate

Mkenya2019:
Ghana heritage fund
As of 2018 - it was mere 500M dollars - but seem Ghana have withdrawn to about 150M.

The oil one is probably nilled now.

https://www.petrocom.gov.gh/oil-heritage-fund-accumulates-about-us500-million-piac/

Ghana Petroluem Holding Fund received 980 million dollars in 2020
Ghana stabilization fund received 600million dollars (It has 7 billion dollars in it)
Ghana Heritage fund received 570 million dollars (had 5.2 billion dollars in it and it hasn't been touched)


Ghana Sinking Fund received 384 million dollars (Fund Total was 3.5 billion dollar) Only 500 million dollars is left, 3 billion dollars has been used to repay debt... The fund is serving it purpose... this is why we haven't asked

Mkenya2019:
Bla de bla. Your puny grass cutter size brain overheating.

Tantrums as usual

deal with your country bankruptcy

you are dead ass broke .... no wonder your blood sucking asses are starving

Mkenya2019:
Again link? You have only 100M dollars; Having already withdrawn from petroleum fund

https://www.reuters.com/article/us-swf-assets-analysis-idUSKBN2650SZ
Ghana has used money from its Petroleum Fund but left its Heritage Fund intact, he noted.

You can go back to the previous thread

I posted Ghana petroluem fund earnings there

it was almost a billion dollars for last year... just earnings alone

Keep joking, you think we are playing here er

Mkenya2019:
Well maybe you have your own country in your delusionary mind but Ghana total revenues 9B dollars, and total budget 17B dollars.

Keep being an exceptional lunatic


While your country struggles with bankruptcy and begging

Mkenya2019:
Ghana Soverign Wealth GHC 500 million - which is less than 100M dollars

That is SMALL CHANGE. Its a joke

It's not even 1B dollars I thought

Our heritage fund alone has over 3 billion dollars in it

Joke is one you

That should be more than enough to repay Kenya Eurobond that it is struggling to pay

Mkenya2019:
LINK to your budget
Nut-case. You are specimen

Read your gov budget of 2021. Revenues total 9B dollars - compared to 22B in kenya.

https://mofep.gov.gh/sites/default/files/budget-statements/2021-Budget-Highlights_v1.pdf

it is freely available on the web

Mkenya2019:
Just blurting useless numbers -as always. Dont waste your time. We go with empirical evidence. Not anecdotal stories of a confirmed nut-case.

We go with total earning in cocoa - and total farmers. Not long stories.

Last year your total revenues were GH¢55,132 - which is like 9B dollars.

Last year, my total taxes was 14 billion dollars whiles total revenue was 20 billion dollars

what you posted was just totals for indirect taxes and Customs generation

Lunatic

My total revenue is 20 billion dollars and my budget is 21 billion dollars and this budget does not include spending we make from our Mineral wealth funds and Sovereign wealth funds .... So which ever way you look at it, we have a larger spending than your poor country..


Explain how debt relief is disaster
you sound lame

We avoided it because we dont need it, we make more than enough money to repay our debt...

Wait are you still taking about Eurobonds?

Our total Eurobonds is 7.8 billion dollars and we repay 0.8 million dollars yearly that is too small an amount of money to send an economy like ours with 20 billion dollars in export to bankruptcy

Unfortunately, Kenya 1 billion yearly Eurobond repayment is enough to send the kenyan economy bankrupt and like you said, you cant trade tea with them..... Your finance minister and president was busy begging my finance minister to negotiate international institutions on his behalf so kenya can get debt relief or else kenya will default like Venezuela That is how bad things were for your country.....

Mkenya2019:
The usual madness - your total revenues are not even 10B dollars.- about 5900 million cedis.

You avoided debt relief because you're starring at disaster.

One bad credit rating - you are bankrupt - forever - like Argentina. Watch the credit ratings - and one rating downgrade - YOU ARE KAPUT!!

Interest rate will keep rising and rising - and you cannot negotiate a way out like IMF normal listen to you - or offer BEANS to debt investors like you did to China

Eurobond is easy but dangerous money. The debt sharks are about to teach you hard and painful lessons. The more you struggle the more interest rates will rise - to even 50 percent - as some investors specializes in such distressed debts.

Mkenya2019:
Cocoa farmers are poor - if they earn 2B dollars - for a total of 800,000 farmers. That is about 2,500usd per farmer per year. And that before you deduct the monopoly debt bing and supply chain cost.

Watch out for the commercial external loan - it will kill you.

Zambia are dead - paying 17 percent interest with hard currency - at least their Eurobond is not Ghana size.

You're just waiting for a disaster...that is why you did not even take debt relief.

One or two bad credit rating....you're BANKRUPT.

Your soverign wealth kit is not even 1 B dollars.

A ton of Cocoa is 2500 plus 400 dollars living wage and most farmers do more than 4 tons per season and there are two seasons....
That is more than enough money for a farmer.. no farmer in Kenya can make this much money from growing tea...


see how your country is struggling to repay it 90 billion dollars debt
If not for Ghana, like Kenya will be bankrupt right now .....

Our 5 or so sovereign wealth funds have a total of nearly 20 billion dollars
That is enough stash to keep my economy afloat even if we stupidly borrow like kenya has done....



Your country kenya has to repay more than 6 billion dollars in debt yearly and your economy does not even generate 6 billion dollars in trade per year..... how will you pay ?

We went around looking for relief for your poor country Kenya
Because you guys were facing bankruptcy and it was going to be a disaster....

Ghana has not taken debt relief yet because we are capable of repaying our debt...

Feel pity for your poor country kenya that Is bankrupt and carrying a huge debt burden it can't repay

Youir country is basically like Zambia with it cup in hand begging even the devil for loans to stay above water....

My country has almost 20billion dollars in saving that it can fall back on, anytime we want or need to...


Kenya taxes are 13 billion dollars while that of Ghana is 14 billion dollars
Ghana total revenue is 20 billion dollars for 30 million people

see how much of a desperate joke your economy is?


Your communist country is still owning business?
The Ghanaian gov't has left business ownership to the private sector... a true capitalist economy ...

No wonder your country none profitable businesses keeps dragging your economy into the mud of debts

Mkenya2019:
Ghana is one that went around looking for relief.
When it was agreed - and they run the numbers - they realized they would be f.cucked.
The reason - their credit rating would take a beating - they are already paying 10 percent.
Next is to pay Zambia like 17 percent Eurobond rating.

I really pity your country. Just watch Zambia...soon you will be paying 20 percent interest on 20B dollars Eurobond...that will crush your economy..that is like 4B dollars on Eurobond alone...PAID IN HARD CURRENCY...not COCOA beans of poor farmers.

Eurobond is not Chinese that will accept barter trade.

Kenya tax ordinary taxes alone are nearly 17B dollars - total revenues 21B dollars. Our budget is 35B dollars.
Kenya's gov owns like 200 corporations - including the likes of Safaricom worth billions.

Dreams uptopn dreams

Cocoa farmers are not poor people

Mkenya2019:
You will take 5B dollars from Eurobond ALONE. Your GDP is 70B dollars. 10 percent of that is 7B. So you see if you take 5B eurobond and 2 Billion using POOR farmers COCOA you will add another 10 percent debt to gdp

Ghana can borrow an additional 20 billion dollars today and we wont run into debt distress because it will be invested into productive ventures that will make profit yearly......

Even if we spend the money stupidly on unprofitable ventures like kenya does, our sovereign wealth funds will be able to repay the loans using it yearly profit....


so, you see, Ghana will never fall into debt distress anytime soon.....

Not evenyone was looking for relief

Only poor countries like yours and those that are overleveraged.... you grew which taxes?
Your taxes still remain 13 billion dollars and that is not enough for your wages and to be able to service your debt.... Even if your taxes were to be 100 billion dollars, your country will still not be able to repay it debt because kenya does not have enough dollars

Mkenya2019:
Everyone was looking for some relief due to COVID pandemics. But we actually dont need it because we grew our taxes under Covid.

KRA defies Covid to beat revenue collection target for 2020-21
https://www.the-star.co.ke › news › 2021-07-03-kra-de...
Jul 3, 2021 — 652 trillion thus surpassing the target by Sh16.808 billion. “During the year, KRA also recorded a milestone after revenue collection more than ...

Waa see dumbness

You dont know the difference between external debt and your entire debt being denominated in foreign currency ....

Your country over exposed itself in the debt market and now you are facing the terrible consequences.....

Ghana took 3 billion Eurobond this years ... explain how that is 30% of our gdp


You are so desperate just like your economy right now

Mkenya2019:
Usual diarhoea. Kenya external debt is 35B dollars. Only small part of it is commercial. The rest of that 35B is mostly zero low interest long maturing loan.

Ghana this year alone - Eurobond (commercial external debt) - will probably go beyond 30 percent of your GDP.

GDP to Debt is already 85 percent...while kenya is btw 65-70 - before rebasing this year.

Few years ago you DESPERATELY rebased your GDP - as it was already past 100. Look like you need to cook it again soon.,

Mkenya2019:
You have degenerated into Just30 madness level. You're literally scraping the bottom of the barrel now...and yet Nigeria export 2 million barrels of Oil . Why would you denigrate into such a desperate level - Nigeria has really let you down.

Kenya debt to gdp/servicing to gdp/credit rating - is better than Ghana and Nigeria.

Kenya total debt is approaching 70B - and half of it external (35b)

Now you are throwing tantrums ......Lunatic

If you believe all that you just typed, Why is your country busy looking for debt repayment freeze?

Healthy economies dont run begging for debt relieve

We rebase our economy based on sound economics unlike kenya that pseudo economics and bundle up figures for rebasing which is not transformational because poverty keeps increasing and unemployment keep getting worse

obaaderemi:
Thank you @bolded.
That's the reason why Kenya's situation is very dire. In fact worse than any other African country whose citizens are on this thread.

I wonder why the rvp guy can't see that Kenya is royally fvcked, especially with tourism and tea prices going down for five years in a row. He is just arguing blindly.

They dont understand economics

There is no devil on Earth-like France, even the Americans dont like their backstabbing ass....


But when you are desperate, you will go and borrow from even the poor devil

obaaderemi:
Even Nigeria runs away from them.
But then a drowning man, just like Kenya, can borrow from anyone, even the devil.

Lunatic

which one is the lies?

Ghana is not the one that has been on a borrowing spree for the last 3 years

Kenya's entire almost 90 billion debt is denominated in foreign currency and has to be repaid of hard currency....
Kenya export does not generate enough hard currency and tourism has been on hold for almost 2 years now.... That is why your country is struggling and begging all around

Debt to gdp ratio means nothing to Ghana as long as we can repay all our debt and that is why we have not asked for debt repayment deferment...... We have prudent debt management

Kenya cant repay it debt hence it desperate situation

Mkenya2019:
Mad cow. As usual lying. In fact if we check 2021 figures - I am sure you have reach 20B of Eurobond if not more.

The external debt also went up by $3.5 billion (¢20.3 billion) to $28.1 billion. This is approximately 37.2% of GDP.


The World Bank had also consistently warned that the country was not far from being classified as a Highly Debt Distress Country. This follows the rising debt and high interest payments.

Its sentiment was also shared by ratings agencies Moody’s and Fitch.

Per IMF estimation, Ghana’s debt to GDP ratio will surge to 83.2% in 2022, and then further to 84.8%, 86.0% and 86.6% in 2023, 2024 and 2025 respectively. It will however drop slightly to 85.5% in 2026.

obaaderemi:
In less than a year Kenya has lost a lot in its retail market.
The retail space is largely empty. Uchumi is dead, Tuskeys is dead, Ukwala is dead, Shoprite left.

The problem is the economy. Before Uhuru took over in 2013, Kenya was largely a backwater with no infrastructure. Just a huge kibera with a few oases of nice places for white and Asian Kenyans.

Uhuru took over and felt he needed to compete with Western and southern Africa. So he started borrowing like a drunken man. You might see a few shiny buildings and roads in Kenya, it's all bubble and the bubble is bursting seriously now. That's why companies are closing down. There's nothing in the economy to support the growth. It's all debt debt debt. And now tourism and tea are down. Kenya is down.

They have no idea how to run their country

see how they are begging all around

Who in his right sense will go and borrow from France?


their country is in serious trouble

Be more recent



Kenya repayment is higher than that of Ghana and it is part of the reason why Kenya have asked for it Eurobonds repayments to be deferred

In case you dont know, while all of you poor countries bankrupted already, have been begging for debt deferment, Ghana has not asked for any because we have enough money to repay all of our debt.......

Mkenya2019:
1) No. Cocoa farmers are FORCED to sell their cocoa to gov, who has used it to borrow loan from China. All cocoa go through Ghana Cocoa Board (COCOBOD)

>The Chinese proposed to accept Ghana paying back the loans in cocoa beans
> Recently you have also mortgaged your bauxite/aluminum to the same chinas. Who does that?

2) You have borrowed 13B in Eurobond...and you intend to borrow 5B this year. It's crazy. If you consider the interest rate you're paying and the exogenous risk from ever declining cedis against USD.

3) You run away from debt relief because of the fear it would knock off your credit rating - leading to high interest in Eurobond.

I can predict you will be bankrupt soon. Zambia is just like Ghana. Not just now but almost historical. They are twins in macroeconomics. The MOST MISMANAGED COUNTRIES in Africa when public finances are considered.

I really doubt if Ghana and Zambia have economists in their public finance sector - what they do has always been hilariously crazy.

Look at the graph below - you have taken almost 20 percent of GDP in Eurobond where interest is nearly 10 percent and is paid in HARD currency. At least Nigeria takes a lot of domestic debt - and they can print naira (QE) and pay it off.

Who does that? . Sober countries who understand prudent public finance management take in Low or Zero-interest loans with long maturity if they are external - from WB/IMF/ADB/France Banks/Japanese Banks/Chinese Banks/US Exim Banks - and rarely gorge themselves on the "free" Eurobond with flexible high-interest rate and short maturity and huge forex risk. Otherwise, the majority develop a good domestic market because gov if worse comes - can simply print the money and pay the internal creditors - aka nationalize the debt

Kenya is like Zambia, begging for it 1 billion dollars Eurobond repayment this year to be deferred.....

How poor can your bankrupt country be?

You guys should be thankful to Ghana for negotiating debt deferment for your poor ass


The problem with your country right now is, it does not have enough USD flow from tea and tourism so it is technically bankrupt from years of excessive borrowing which is leading to excessive outflows.....


I told you guys this in 2019, that, should any external crisis occur, your country will be found wanting

Ghana's 25 billion dollars was secured using Ghana aluminium sales to China

Ghana is not dumped like Despotic Kenya which has been sold completely to China

Mkenya2019:
Ghana is just crazy - Farmers cocoa has been used to secure 25B dollars of loan. This CAN NEVER happen in Kenya. What kind of democracy is Ghana running?

Cocobod has a monopoly, through its subsidiary Cocoa Marketing Company, over the marketing of Ghanaian cocoa beans.

Cocobod, via its marketing company, obtains cheap US dollar loans on international markets, using cocoa contracts as collateral. With few exceptions, only contracts with multinational buyers qualify as collateral since domestic buyers tend to have poor credit ratings and small balance sheets. In this way, Cocobod has secured nearly US$25 billion over the past 28 years. The Bank of Ghana needs these US dollars to maintain a foreign reserve and stabilise local currency.


It makes for a sad read. 150B dollar chocolate industry - Ghana gets 2B only - from close to a million farmers

https://theconversation.com/why-ghana-doesnt-get-the-full-value-of-its-cocoa-beans-and-how-this-could-change-158773

my farmers are paid directly for their cocoa, when it is purchased

Kenya has a huge Eurobond debt hence its huge repayment yearly, which is larger than that of Ghana..

Kenya is in debt distress hence why it quickly jump unto the debt repayment freeze that Ghana negotiated for your poor country...

Ghana has never ever mortgage cocoa

rvp20182:
You have done both...like Zambia taken in huge eurobond...and taken in collateralized china loans where your farmers cocoa proceeds are banked in china escrow account..and now your minerals.

Kenya has been very careful on eurobonds...and we have never taken a collaterlized china loan. Show me an escrow account opened by Kenya with Chinese.

The worse we ever did is to sign take or pay btw two kenya parastals - Kenya Ports and Kenya Railways - as condition of a 5b dollars loan.

Meanwhile Ghana long mortagaged their cocoa and minerals. And taken in huge Eurobond at crazy interest rates. You will certainly default again and again like your bossom friends Zambia

Your country kenya is broke and begging everywhere for debt freeze

even zambia wont do that

Too bad, your country Kenya has a higher Eurobond repayment per year than Ghana.....

Real loans are sold on the Eurobond market, if you are looking to collateralized your country, you go to China

Mkenya2019:
Go to your bank and beg - and see if they will lend. We don't beg. We borrow because we can repay. We have never defaulted like Nigeria and Ghana.

We like China loans because they are concessionary loans. Almost like IMF/WB - which post 2014 we no longer qualify for most of them having become Low Middle Income country. They are mostly long maturing.

Only morons like Ghana would rush headlong into Eurobond - where their interest rate is almost 10 percent. Ghana and Zambia are really crazy countries in Africa - macro-economic-wise.

As for your technical broke country - please find out your servicing to revenue ratio - it more than 100 percent.

Nigeria is Technically Bankrupt Country. It's few events to become Venezuella.

Saddamochieng00:
I see that you're learning.

Get a KG kid to educate you, for you are too dumb

Saddamochieng00:
Google is your friend. You can always look up these words instead of coming here and embarrassing yourself

You are so dumb

keep embarrassing yourself and broadcasting your dumbness on an international platform

Even KG kid will tell you what it means and how it applies to your stupid comments because they understand literature (an essential part of the English language)