₦airaland Forum

mtisTheQubit:
Little liar...

like i said
you are dumb and knows nothing.


come and pay someone 300 cedis and see if they wont send you to court.

mtisTheQubit:
How cedis for a dollar?

minimum wage is a wage at which no one is paid

the daily wage in Ghana is 80 Cedis average

no one use nominal gdp to compare countries


Pairing Purchasing Power Parity With Gross Domestic Product
In contemporary macroeconomics, gross domestic product (GDP) refers to the total monetary value of the goods and services produced within one country. Nominal GDP calculates the monetary value in current, absolute terms. Real GDP adjusts the nominal gross domestic product for inflation.

However, some accounting goes even further, adjusting GDP for the PPP value. This adjustment attempts to convert nominal GDP into a number more easily comparable between countries with different currencies.

To better understand how GDP paired with purchase power parity works, suppose it costs $10 to buy a shirt in the U.S., and it costs €8.00 to buy an identical shirt in Germany. To make an apples-to-apples comparison, we must first convert the €8.00 into U.S. dollars. If the exchange rate was such that the shirt in Germany costs $15.00, the PPP would, therefore, be 15/10, or 1.5.

In other words, for every $1.00 spent on the shirt in the U.S., it takes $1.50 to obtain the same shirt in Germany buying it with the euro.

Shma:
jokes aside bro, have just read one of the articles about Ghana and I was so impressed about their strive to emerge as west Africa powers Their economy is booming like f*ckn crazy,! Their individuals are well treated and managed as compared to any other west Africa country, their inflation rate is lower and thus HDI speaks volume in that nation. Give Ghana few years from now and see where it will be. Ghana is indeed striving. I also searched for west Africa and east Africa countries comparison and indeed Ghana has appeared several times on different comparison indices than any other country in west Africa as far as management of individual citizens is concerned. Kenyans should also learn from Ghana on that! But that will bring the question why,? Which will presumably take us to the drawing board. Ghana is a small country in terms of population and size in general, just like any other small countries in Africa e.g Seychelles, Mauritius, e.t.c which dominates the purchasing power parity in terms of GDP per capita and HDI by a huge margin, and that should tell a lot. There are others despite the challenges they still do better in terms of GDP per Capita, but far far behind in nominal GDP, we can trace the likes of Libya, Botswana e.t.c . Now what is the point? Ghana 's economy rely mostly on wages and salaries. But when it comes to other indices, am not hating but Ghana is a joke., to say this doesn't dispute the fact that Kenya is ahead of Ghana! Although both countries are doing the same when it comes to development, when Ghana grows Kenya is also growing and the margin will remain unattainable.

#let's learn from each other.

The is a reason why Kenya will never catch up with Ghana

What Is Purchasing Power Parity (PPP)?
One popular macroeconomic analysis metric to compare economic productivity and standards of living between countries is purchasing power parity (PPP). PPP is an economic theory that compares different countries' currencies through a "basket of goods" approach.

According to this concept, two currencies are in equilibrium—known as the currencies being at par—when a basket of goods is priced the same in both countries, taking into account the exchange rates.

Shma:
jokes aside bro, have just read one of the articles about Ghana and I was so impressed about their strive to emerge as west Africa powers Their economy is booming like f*ckn crazy,! Their individuals are well treated and managed as compared to any other west Africa country, their inflation rate is lower and thus HDI speaks volume in that nation. Give Ghana few years from now and see where it will be. Ghana is indeed striving. I also searched for west Africa and east Africa countries comparison and indeed Ghana has appeared several times on different comparison indices than any other country in west Africa as far as management of individual citizens is concerned. Kenyans should also learn from Ghana on that! But that will bring the question why,? Which will presumably take us to the drawing board. Ghana is a small country in terms of population and size in general, just like any other small countries in Africa e.g Seychelles, Mauritius, e.t.c which dominates the purchasing power parity in terms of GDP per capita and HDI by a huge margin, and that should tell a lot. There are others despite the challenges they still do better in terms of GDP per Capita, but far far behind in nominal GDP, we can trace the likes of Libya, Botswana e.t.c . Now what is the point? Ghana 's economy rely mostly on wages and salaries. But when it comes to other indices, am not hating but Ghana is a joke., to say this doesn't dispute the fact that Kenya is ahead of Ghana! Although both countries are doing the same when it comes to development, when Ghana grows Kenya is also growing and the margin will remain unattainable.

#let's learn from each other.

psychologygh:
shut up and don't say what you don't know. Informal artisans are paid 70 cedis that's 11 dollars per day.We call some of those artisans in building construction as kpomkpo because all they do is the most unskilled part of construction as in just carrying cement mixed concrete on a small head pan or just mixing cement with water and sand for the day.basic driver's conductor of our informal trotro bus known as matatu in Kenya take 60 cedis a day which is about 10.5 dollars daily.No worker is paid that minimum wage of 2 dollars. It's just a benchmark and 99.9% of workers are paid far ahead of the minimum wage.

its been reviewed to 80 cedis

mtisTheQubit:
Look a jua kali artisan in Kenya (informal sector) can easily get 500ksh ($5 ) per day..your employed get 200kshs ($2) as minimum wage..just tel me who is poor here..I'll start calling you Suffer an Smile

minimum wage in Ghana is 80 cedis

we call it the daily wage agreed on by the market

mtisTheQubit:
First you are spending almost everything on wages an interest..second IMF owns Ghana..show me any country bailed out so many times like Ghana by IMF..

we spend 40% of our revenue on wages

Because we have to pay our citizens better

mtisTheQubit:
And they all dropping..The only thing working in your country is oil...

which one is dropping?

they are all increasing

mtisTheQubit:
i though you said 80% of ghana economy is informal...man you got have memory lapse...
Look poor people run through libya escaping poverty...dude there is nothing about richness in little colony..nothing

yes 80% of the known economy of Ghana come from the informal sector.

the only colony we HAVE come to know is Kenya
a part colony of China
part Arabs
and part Persians


The informal sector of Ghana has made Ghanaians middle class people

mtisTheQubit:
The other day you said they used to manage the camps...

and these are Ghanaians who were working in Libya before the war

mtisTheQubit:
The other day you said they used to manage the camps...

how is it different from this ?

they owned or manage the camps and the Europeans pay them to help slow down the flow

but who are they deceiving


that is why more Kenyans are dying from road accidents

vaxx1:
They prefer malls to hospital. it gives them the fake reality of wealth

mtisTheQubit:
look if what you call urbanization is like living in kumasi and accra hell not...rural Kenya got everything we want..bythe way all those foreigners whom you keep on quoting live in rural settings..

you mean rural kenya that is in darkness without hospitals and roads ?


yeah youve got everything



People with enough disposable income urbanize faster
they build good houses to live in
build good roads and hospitals.

the remaining 70%
uhuru owns 40% and the rest is useless lands

vaxx1:
noo....The farms are controlled by multi international... over 30 percent of farm land in China colony is owned by foreigners. even the remaining 70 percent are not equally distributed .

mtisTheQubit:
Ghananians are little liars...

Kenyans are just big thieves

robbing peter to pay paul in an attempt to look developed

yet cant afford to even connect the peanut electricity to their houses

mtisTheQubit:
Lets look at ths objectively..You are paid peanuts..your country is one expensive colony...Your so called employed are just like unemployed in Kenya...an thats the reason you cant show anything meaningful in your country..you just keep on talking IMF stuff on paper

haha you make me laughs


an employed Kenyans will be a pauper in Ghana

why are employed Kenyans still living in villages in Kenya ?
They cant even afford to live in good houses hence the trillions of slums in your country.

Kenya is so cheap yet still they employed in Kenya cnt afford good homes to live in
neither can they afford good hospital or schools.

why will you set up a country to treat your fellow citizens like thrash in their own country?

mtisTheQubit:
You talk of debt trap as if Ghana knows to manage anything...When IMF stops bailing you out w'll see. by the way Kenya never defaulted ..fact

Ghana does not need IMF money


it is peanuts to us.


at any given time that we take their money
we are concurrently spending 20 times from government coffers on development

Ghana tax revenue comes from corporate taxes and royalties
Vat and etc

mtisTheQubit:
Point your non-oil revenue collection if flat leaving oil sector the only other option..so ya basically another Nigeria...

mtisTheQubit:
Point your non-oil revenue collection if flat leaving oil sector the only other option..so ya basically another Nigeria...

this one thinks we are unproductive like them


Basically Kenya has to depend on tea for revenue
without tea, Kenya is bleeped because it cant tax Kenyans.

your people are too poor and live in villages for them to be taxed.

they engage in no economic ventures hence result to village living and hunting for animals to eat.

Ghanaians were never sold in Libya


they were the ones selling your Masai people

mtisTheQubit:
So if you guys are paid peanuts, how do you survive? th squestion is deeper than you think..when i first saw ghananians being sold in libya i was shocked..but the more i learn of your IMF managed economy,the more i understand the eff in your country

mtisTheQubit:

A middle class with one of lowest minimum wage in Africa..you are competing with somali man...bythe way we are already a middle-class economy my ghana friend...but what really matters is stuff on ground..Ghana got nothing to show

yeah

a fake middle class economy that does not meet 90% of the criterias



real stuffs on the ground says Kenya is a lower income economy with 40% poor people

a middle income economy should be able to bring it people out of poverty.
Provide quality health care for them.
why is it that all the hospitals in Kenya look like shit?


why are 70% to 80% of Kenyans still living in the village?

mtisTheQubit:
Ghana authorities thus plan to issue up to $2.5 billion in a Eurobond, and to borrow a further
$500 million in commercial loans.Out of the Eurobond proceeds, $1.75 billion will be
allocated for debt management purposes, to smooth the spikes in debt maturities in 2023 by repurchasing
debt in a broadly NPV neutral manner.

talk of pot calling a kettle black

Ghana successfully raised US$3 billion in Eurobonds yesterday. The country’s strong macroeconomic performance over the past two years and bright future prospects were confirmed by the Capital Markets with an unprecedented order-book in excess of US$21 billion; an oversubscription of more than seven (7) times the largest ever in Africa to-date.


https://www.mofep.gov.gh/news/2019-03-21/eurobond-market-overwhelmingly-endorses-ghana-as-the-country-successfully-nears-completion-of-the-IMF-programme

Ghanas eurobond was used to finance developmental projects across Ghana
and finance the counterpart fundings of Government of Ghana.

we all knows what a sick economy is


It is ann economy that claims to be growing but creating more unemployment
One that is not transforming lives hence more poverty.

An economy in a debt traqp hence has to borrow to pay old debts and support it currency.

Kenya has passed successfully

mtisTheQubit:
I thought we agreed we quote the master IMF which says Ghana is a sick little economy ....nothing there

mtisTheQubit:
dude even a common guy like you should understand that..your inflation is on the roof top

Ghana has a single digit inflation


meaning it is good


The debt trap that Your country has entered is not going away anytime soon
until every Kenyan goes to the farm and starts growing more tea and maize to increase export and reduce your import bill.

mtisTheQubit:
First stop using opera(its for cheap phones)..
Yes i totally agree ,your revenue collection is flat ..they is no growth..You only depend on oil stuff

Ghana earns 250 million in revenue from the petroleum sector

dont make dumb arguments

mtisTheQubit:
Ghana's Credit growth has remained subdued, partly reflecting the continuous increase of nonperforming
loans (NPLs).

non-performing has only increased because we decided to collapse 18 banks and 350 savings and loans companies.


the receiver of all those companies will retrieve all the monies due them

mtisTheQubit:
This is an economy on sick bed...lets hope Dr IMF is there always...

this is an economy that is highly developing
a middle-income economy that has moved it people out of poverty.


talk to us when you become a middle-income economy.

mtisTheQubit:
The truth will set you f[b]ree..Ghana spends almost everything on wages..there is almost nil developmental spending.

Ghana makes it developmental savings from it sovereign funds


This is why Ghana still have room to borrow more
for development purposes.

Because our revenues can service our debts

rvp20182:
Our judiciary independently overruled the rate capping as unconstitutional.We no longer take instructions from IMF like we are ghana

you are screaming too much


your parliament did not review the law

rvp20182:
Our judiciary independently overruled the rate capping as unconstitutional.We no longer take instructions from IMF like we are ghana

How will you save your currency next year
IMF is your only option

the Chinese are refusing to lend you anymore money for you to support your kshs

vaxx1:
You do well rely on them in 2009 when 200 million dollar was wire in to save your drought economy. Now you have listen to Bretton wood institution. the cap interest has been removed, so the good outlook is IMF might consider you again as the case to get IMF bail out is not entirely off your goverment table ...

Now that they've removed the cap on interest rates


was things fall apart

psychologygh:
you never took a coin because you didn't qualify to take a coin due to your unstable government from 2016 to 2018 and now in November 22nd this year,you have invited the IMF team to reaccess your debt riddled economy and look at your government's introduction of petroleum taxes,VAT and cuts in spending in order to qualify once again for a bailout cushion loan.Now your debt to GDP has risen to 62%,you're using 55% of your tax revenue to service old debts and taking in more debts to service old debts which is foolish.Poverty,hunger, famine,flood,mudslides etc are killing your poor people daily,listen,Kenya is an extremely poor country.

so they are going to take IMF money to support their currency again

The Chinese i guess are refusing to lend them money until they start paying the old ones