₦airaland Forum

mtisTheQubit:
16 bailout...that's funny...borrowing its business..bailout its just beng poor.

Have you heard CHARITY LOANS before

Those who want to borrow goes to the Bond market except poor countries.

gallivant:
Oh please, even here in Nairobi we have hobbits who have escaped the colony. If Ghana was great you won't have your refugees(expatriates) doing menial jobs all over the world.

Ghanaians do not come to your country to do menial jobs

Your country pays top dollars to get Ghanaians to come and run your education and health sectors

While Kenyan women are the latest prostitutes on East Legon streets

gallivant:
So how would you know what was said in the phone call stupid?

Because my friend is an advisor to my finance minister and listens in on all calls



I've told you i get info when i want them

I can even tell you what Kenyatta is doing today

mtisTheQubit:
You Ghanaians are just lab rats..Ya only the country in the world that has been bailed out 16 times..dont you feel ashamed talking about sovereignty..

Kenya is an IMF and WB colony

owing IMF and WB 30 billion dollars

WHILE CHINA is the grandfather of Kenya to whom Kenya sovereignty was sold for 3 billion dollars



if you combine all of Ghana 16 IMF bailouts, it is less than how much Kenya owe IMF and WB IN JUST 10 YEARS

gallivant:
WFP is feeding Nigerian and hobbit refugees in Kenya. You should thank us.

Ive never heard of a Nigerian living in Kibera or all the other slums that WFP share food to

mtisTheQubit:
the refugees here are not Kenyans..what with your slow thinking..

are Kiberians not Kenyans ?

mtisTheQubit:
How much do you think ths organizations spend here...dude ya got no idea ..so just stick to your usual fantasies of your 60 billion economy..thats na small country there

they only spend money to pay their permanent employees in Kenya and and utilities to keep their office running which is less than 1 million dollars

gallivant:
Still doesn't amount to 17 IMF bailouts. Ghana is in a class of its own!

it is still less than the 20 times Kenya have been to the IMF to borrow
Thereby owing IMF and World Bank 30 billion dollars.

Kenya is at the mercy of IMF and World Bank.

mtisTheQubit:
its a little bit confusing for a guy living in a colony to talk of sovereignty

we are not a colony to anyone




The truth is really hard for Kenyans


Kenya is an IMF debt haven that has lost it sovereignty to China because of bilateral loans

gallivant:
Was this a three way call or you are just being silly again?

no one way call

dumb ass

mtisTheQubit:
its hard for you Gunias to understand but thats being spend in refugee camps in Kenya...its for feeding refugees..

yes
WFP is feeding Kenyans

but all the food supplies was bought from Tanzania

so the money went to Tanzania

is that clear now?

the flow is not created in our economy because the spending did not take place there

mtisTheQubit:
dude we talking of flows of dollars in the economy..am not talking of dying cedis..

Where do you think WFP is spending the 100 million dollars that will feed your poor people ?

They are spending that money in Tanzania to buy food supplies from there to send to poor Kenyans same as UNDP


Kenya is a poor country that grows nothing
Tanzania wins

mtisTheQubit:
the bolded..man you just wann sound smart buts its pathetic..the flow of benjamins in our economy is undeniable...Ths year alone wfp will spend 100 million dollars in the refugee camps.thats just wfp alone..do you know how many branches of UN we got here..lemme list but a few.Just worry about your fossil-based economy..we Kenyans know how to roll.

ICAO
IFAD
ILO
IOM
OCHA
UN HABITAT
UNDP
UN RC/HC
UNAIDS
UNDP
UNEP
UNESCO
UNFPA
UNHCR
UNIC
UNICEF
UNIDO
UNISDR
UNODC
UNON
UNOPS
WFP
WHO

How did South Africa COVID death increase drastically overnight ?

vaxx1:
they just received some fund to fight draught not to talk of convid 19 that has already damaged their tourism venture.

they will need more loans to revive their economy over the next 5 years which will send their debt to 100 billion dollars.

More IMF and WB loans for them as China comes in to pillage

They've been exposed



Meanwhile, 45% of their small revenue is being used to service debt leaving a very small percent for their 53 million people and government responsibilities

vaxx1:
ignoramus both emergency and overdraft takes of your credit point . infact any method of borrowing does. we are taking about prudent management here. ability to request for debt using less risk instrument like emergency loan Ghana qualify for overdraft loan has a much lower requirement unlike emergency loan that is very much limited. improving your credit score is simple. just pay on time as at when due . this Is what Ghana keeps doing. moody agency recognised that..


kenya is not prepared. your two must productive venture have largelly being affected. Agriculture and tourism. you need more foreing aid now than ever.....

rvp20182:
It's a loan that will be repaid. It's not free money.If you're unable to pay now - your debt repayment became worse.

Kenya we only want a standby facility - just in case we need to tap into it. This standby facility is needed to shore up market and economic sentiments...to protect Kshs and our macro-economics. We may not even draw a shilling.

Did anyone say it wont be repaid?

It is and interest-free money with no conditions



Your economy is too bad right now Kenya need debt relief at this moment and your finance minister called mine to request that hence why, together with South Africa, we are seeking debt relief for your poor ass.




Your debt has already ballooned
Be careful how much more you borrow

else just debt relief will not be enough for you

rvp20182:
Asking for an emergency loan will take off a lot of points from your credit score.Asking for debt relief is begging. You're a lot denser than Just30.

Kenya is prepared to weather through this - and we might even see the economy grow.

haha

don't worry, you will get that debt relief you so badly need right now
Ghana will make sure you get it because we don't want to see the images of poor starving Kenyans being blasted on global media with the African tag on it.



As leaders of the African continent, we will make sure you poor economies get it

vaxx1:
Yes that stupidly shows in your poor management in servicing China loan.


Only if you know emergency and overdraft are both regarded as debt . while you will be paying noting as interest on the former one , you are expected to even pay an overdraft fee for the courtesy of paying transactions that exceed your initial balance for your overdraft. You might even have to pay a fee if your account remains negative for particular period of months . that is not prudent, that cost is on the head of the poor paying tax citizen of kenya.

Currently, Ghana finance minister and her south africa counterpart are asking for debt review and relief on your behalf. if your has weak mentality to proceed in that . Ghana will do it on your behalf. who knows what kenyatta went to do in China apart from begging when he was made to appear before China legislators like a slave before his master. you know he was declare missing At home. he might properly be begging China for little more relief.


kenya may never stop begging, since she required more debt to service another pending one.

slave before his master

you are mean

China dictate the terms because they sold their sovereign for 3 billion dollars
Their MAU MAU grandfathers will be turning in their graves

rvp20182:
IMF didn't have an easter weekend as they were busying trying to keep Ghana afloat. Worry about such stuff. Not academic debates

IMF Executive Board approves a US$1 billion disbursement to Ghana to address the COVID-19 Pandemic

https://www.imf.org/en/News/Articles/2020/04/13/pr20153-ghana-imf-executive-board-approves-a-us-1-billion-disbursement-to-ghana-to-address-covid-19
“The uncertain dynamics of the pandemic creates significant risks to the macroeconomic outlook. Ghana continues to be classified at high risk of debt distress. The authorities remain committed to policies consistent with strong growth, rapid poverty reduction, and macroeconomic stability over the medium-term.

IMF was actually busy think of How to give poor economies like Kenya debt relief for 2 years so that you economy does not crash

IMF has made 1 billion available to Ghana if we want to access their 1 trillion dollar fund.

We will access it if we need it even though it is a conditional free loan.

In the meantime, we will depend on our own monies first

rvp20182:
I knew you couldn't last long before your puny brain overheats. Take a break or rat soup - and comeback refreshed - we know you're used to double track education - and we are approaching the afternoons - time for a new group to come in.

Hahaha A policy your public service has beg us to loan to you because you so desperately need a solution to your crisis.

rvp20182:
Without dignifying the nonsense not worthy of a rebuttal - how do you spend more than Kenya - when your entire budget is like 10-15B dollars. kenya has double your budget (more than Nigeria - your elder congenital sibling). Your debt repayment and Kenya is the same -around 30%. We pay our teachers and civil services more than twice what you pay.

hahaha are you crazy

Ghana budget for 2020 was 20 billion dollars for 30 million people
you don't come close.

Only Ghana has more dollars inflow into it economy to be able to repay it debt.
Kenya runs a huge trade deficit so it is always starved of dollars and COVID has only made it worse as there is no more tourism inflows.

Ghanaian civil servants and Public servants are highly paid than Kenyas

Poor Kenya the IMF and WORLD BANK colony

With China as a grandfather

Kenya has borrowed 3 billion from IMF and WB every year for the past 10 years.

The Kenya finance minister was first on the phone to Call Ghana's finance minister to plead to Kenyas behalf from China else Kenya will fully lose it sovereignty because Kenyans were too dumb to over exposed themselves to bilateral loans with bad terms

rvp20182:
Negotiating for an overdraft facility and emergency facility is not the same thing. This is as plain as English can get.

As regard to Ghana helter-skelter debt diplomacy - please speak for your broke country - kenya has not asked for any debt relief from any it's creditors.

This is not first time we are experiencing economic shocks..We are Africa's most resilient economy - we have had droughts, near civil war, global recessions etc - on such regularity and we didn't go begging.

We know what prudent public financial management is.

Naa

you don't have enough forex reserve because in just 2 weeks your forex reserve went down by almost a billion dollars

Sorry, but the UN does not bring any money into the Kenyan economy except the small one million dollars that it use to pay it workers in Kenya and Pay the running cost of the facility that in use it Kenya.

Your huge trade deficit has made sure that your economy remained desperately dependent on CHARITY LOAN from the IMF and WB that does not grow your productive capacity.
Hence as you acquire more of those debt, your small economy remain dependent as a colony with no capacity to pay back.

This chart showing your debt repayment says you always have a forex problem hence why you borrow from IMF hugely despite knowing that their money is not growing your economy.

the Beauty of Ghana EuroBond is, we go all the time to expand our economy because we have sound stats and a good credit rating but the IMF will not allow Kenya to venture.

rvp20182:
You didn't bother to read the % of kenya Eurobond oversubscription that dwarfs Ghana.

As regards to dollar inflows to Kenya - we never have a problem. We have enough forex reserves - on average 6 months worth - when we need only 4 months.

We get forex from trade (5-6b), lot more from FDIs, re-partition by Kenya companies all over Africa, remittances, tourism, from UN and international organization stationed in Kenya (2B dollars - UN alone 1B dollars).

We have not asked for IMF bailout since 1990s.

Now Ghana - with all the GOLD (more than south Africa), Aluminium, Bauxite, Oil and all the remittances - your CEDIS in 10yrs has lost 600% or more of it's value.In 2009 - you were like 1 to 1 to Cedis to dollar -now it's about 6 CEDIS to a dollar.

Kshs in same period has depreciated from 75shs to a dollar to now 106 shs..not even by 50%...something close to 25% depreciation.

If China does not agree, we will see China coming to pull down Kenya's pant to get their money.

vaxx1:
That china that is selling back the relief items Italy sent to them as COVID relief.

Mombasa port is already gone, so the next thing that will go is Kenya standard rail and Nairobi inland port as the contract forces Kenya to compel all load to be transported on the rail despite the fact that it is expensive to do that.

1 You have a porous ability to reason. they are many reasons to have urgent balance payment . . convid 19 has made almost half the world country to fall into that same pit. kenya is presently hit. your agriculture and tourism industry which are the first and second most productive venture have largely being affected . tell me why you will not need bail out now? as for the rapid credit , you will surely not qualify cus your economy surely need a prudent management as I speak.


2...Your useless broke nation is currently seeking and pressing after IMF stopped your acess last June after failing your goverment failed to agree on a reduction of the fiscal deficit.


3. your highest worry now should be China, currently Ghana finance minister is working toward extending you loan payment with Bretton wood institution and likewise other africa countries. . China does not believe In forgiving debt . they will soon hold your nation into account.

rvp20182:
Kshs has depreciated from 101 to USD to 106USD...it's probably Africa least depreciated currency. And you know we are getting huge OIL stimulus package courtesy of Ghana, Nigeria and etc. Our petrol prices at pump this week dropped by a whopping 20shs

Let cross over to West Africa IMF colony.

Cedis pre-COVID was 5.3 now it's 5.8...that is double KSHS rate of depreciation.

That is the beauty of an export-led economy
you can depreciate your currency to earn more from export.

Kenya cant afford to because it already have a huge deficit that it have to borrow to plunge and the least drop in exchange rate of the kshs makes everything 5 times worse because it will mean, Kenya borrowing more from IMF to plunge the depreciation gap as well.



Ghana is saving huge in this oil price drop as
We have used the drop in prices to pay a 3 billion energy sector legacy debt in just 6 months.

You are really dumb

Your economy is not sound hence why you cant borrow from the Bond market

Ghana has gone to the Bond market so many times and have received oversubscriptions of 400% plus
that is how strong our economy is.

IMF loans forms the least part of our debts unlike Kenya.

That is the beauty of the Ghanaian economy it is highly diverse and not dependent on any single commodity.

Oil price collapse and gold price pick up.
Gold price collapse and cocoa price pick up and we earn huge monies from both manufacturing and export of raw beans.

18 billion dollars from export enters our economy every years so we always have dollars to service out debts.

Kenya pays 18 billion dollars in import while earning just 5 billion dollars every year so the kenya economy is always straved of dollars and faces balance of payment challenges hence why you guys resort to borrowing from IMF every year to the tune of 3 billion dollars to plunge that gap.

rvp20182:
Facts are stubborn things.

When Ghana borrowed1B dollars in Eurobond - in 2015 - you had 100% oversubscription- 2B dollars.

When Kenya borrowed 2B dollars in Eurobond - in 2014 - Kenya had 500% oversubscription -8.8B dollars.

In 2018 - we went back for another 2B dollar from Eurobond - the market was willing to give us 14B dollars!!!!!!!!!!!!!!!!!!!!!!!!

Check the difference btw Ghana and Kenya's Eurobond interest rate.

In short - Kenya is like 10 times more attractive to commercial debt investors than Ghana.

But we are NOT IDIOTS to just borrow. We have to figure out how to repay...we have to think about lean times..like now...these are dangerous times for the likes of Ghana..because commodities have collapsed..economy cannot repay anything.

In fact the 2018 2B dollars - we didn't take a coin of Eurobond back to Nairobi - we used the money to retire commercial loans (from Banks like JP Morgans).

KSHS has already gone south and (you so badly want to be like Ghana) but you don't get to be like Ghana

You are like Liberia now because you don't produce anything bit import everything from toothpick to tooth brush so your import bill goes higher as all your debt repayment in dollars goes higher.

You cant come out of this because it is a vicious circle, so you run to IMF again like the coward you are to borrow even more from them and put your product less economy in even more conditionalities.

Continuing the poverty circle.

You can find the links the says Ghana has solved it energy crisis and have renegotiated all it energy contracts.

Kenya on the other hand does not even have a finance minister at this point hence they are relying on Ghana's finance minister to broker debt relief for your poor economy.



IMF and WB colony
with China as a grand father

rvp20182:
I don't mind you sacrificing facts as you scrap the bottom of the barrel - but you can come up with original put-downs.

Yes feeding kenyans is important as well as protecting Kshs.

If Kshs goes south - we become Ghana - our debt situation goes haywire - without us borrowing an extra cent. So being OWED lots of money - doesn't mean you took all that money to DEVELOP -- it could well be you borrowed 1Cedis but somehow the bank want 100 Cedis - compounded interest rate, currency depreciation, inflation.

As for the energy sector - where is link showing you're out of your energy crisis - and have renegotiated them. The last I heard you went rogue ,refused to pay and Trump had you banned from US funding

you are dumb

this discussion is not for you


Go and cry to Kenyatta to stop prostrating before IMF and WB to save his economy and get the necessary brains to build your economy.

a colony of IMF like Kenya

Shma:
the first bolded is repetition, don't you have anything else to say?
Anyway our debt goes to infrastructural development which can equate to huge revenue hence growing our economy. we're not dumb like some of your compatriots to always borrow for self interest.
That's the reason Ghana got bailed out . You can't manage your dept properly.
The last bolded shows how ignorant and desperate you are, show as any link that says Ghana is in the line with the mentioned.?

And why do you take 2hours to reply .. I thought you're naturally intelligent.


Just passing..

External Bonds are the way to develop if you want to use loans

But poor stupid unproductive countries like Kenya cant access it because their economy is not developed enough.

Hence they turn IMF and WB to their fathers for CHARITY and become colonies of underdevelopment and poor starving people.
There is a reason why South Africa avoids bilateral loans, ask the South Africans and they will tell you.
It is the easiest way to lose your sovereignty

Go for commercial loans and develop ooo Kenya, else you will remain the world basket case of slums

The Ghanaian economy is strong and will strongly recover because it is a manufacturing economy but the Kenyan economy will not for the next 5 to 10 years because it is hugely dependent of tourism as it largest earner.

Just one week of shutting down the Kenyan economy and you guys were already desperate and in need of IMF money.

The beauty of Eurobond is that, You have a long time repayment and the very essence on which the monies were used are productive ventures so you don't have a payment problem and no one will seize your country asset.

rvp20182:
External commercial loans are bottomless and very appealing to idiots like Ghanaians. But remember every loan will have to be repaid. Remember to think about worst-case scenario. Remember to think about exogenous risks.

Take for example now - COVID-19 - the economy of Ghana will obviously tank like everyone else. You can skype with IMF and WB - and they will promptly agree to put you in bailout as their guinea pig or to be precise their - lab rat for COVID-19 economic treatment. They can even agree for you to Skype on behalf of mother Africa and we will be very grateful.

But will you skype all the thousands of Eurobond investors about COVID-19, Oil slumps and etc. about delays in paying them

Nope - these faceless people - will do the opposite - they will now think you're too risk - and will ratch up their interest.

And then Ghana Cedis will obviously weaken - against USD - and you'll discover if you borrowed 1B dollars eurobond - you are now required to payback 10B dollars.

And you'll go bankrupt like Argentina, Greece, Ghana, Zimbwabwe and Zambia.

And you'll take 50yrs - because once you default - you get listed in every credit reference - and you'll never borrow.

In short like you did in the Energy sector - where you rushed headlonged and got 5,000MWs -- DO NOT RUSH.

THINK THINK THINK.

Now every year you're getting 1B dollar bill for the turbines that never turned

You see you been under bailout since 1961 because you got yourself in a rat hole....thankfully you enjoy the rodents as a meal.