₦airaland Forum

rvp20182:
When did we refuse for them or anybody out there to come and value KShs . They put Kshs to scale - their own brand new scale - and said it was over-valued - we are still waiting for Kshs to heed to IMF - it seem defiant.

CBK cannot release market-sensitive data - We are not an IMF colony like Ghana.

IMF had said that the Kenyan shilling risks being classified as “managed” rather than operating on demand and supply.
“Reflecting limited movement of the shilling relative to the US dollar, MCM’s (Monetary and Capital Markets’) 2018 report on exchange rate arrangement to be published in February 2018 will reclassify Kenya’s shilling from ‘floating’ to ‘other managed arrangement’,” said IMF. Njoroge said CBK would only release data if it was no longer market-sensitive, adding that this was a global practice.
“ We do not comment on currency interventions until we judge that it is no longer market-sensitive. Check anywhere, the Bank of England, check how much information they reveal ” he said.

The governor added that the interventions were not done with “favourite players in the dark”, but rather during open market operations with banks, which knew whenever CBK intervened.
He also added that Kenya was an open economy with no controls over current or capital accounts.
The Central Bank, the governor said, operated a flexible forex market that did not target any particular rate but allowed the market to price it.

https://www.standardmedia.co.ke/article/2001304396/njoroge-tells-off-imf-over-shilling-value

rvp20182:
We do not have any forex controls (you can bring or take as much as dollars as you want) - and our CBK doesn't print USD - so how can we managed to artificially inflate Kshs? If Ghana cannot do it - how can Kenya do it with even less forex reserves.

IMF were wrong - and used Kenya as guinea pig in a new methodology.

rvp20182:
Not only is your regime managed - you have tonnes of forex controls.

According to IMF 2018

Country1 Exchange Restrictions and/or Multiple Currency Practices2
Ghana The IMF staff report for the 2017 Article IV Consultation, Fourth Review under the Extended Credit Facility
Arrangement, Request for Waiver for Nonobservance of Performance Criteria, and Request for Extension
and Rephasing of the Arrangement with Ghana states that, as of August 3, 2017, Ghana maintained one
exchange restriction and an MCP subject to Fund approval. The exchange restriction arose from the limitation/
prohibition on purchasing and transferring foreign exchange for import transactions by importers who have
not submitted to the commercial bank customs entry forms for any past foreign exchange transactions related
to imports, and which are unrelated to the underlying transaction. An MCP also arises because the Bank of
Ghana requires the use of its internal rate (i.e., the previous day’s weighted average interbank exchange rate) for
government transactions and the surrender of foreign exchange proceeds from cocoa exports funded through
the cocoa syndicated loan, without having a mechanism in place to ensure that, at the time of the transaction,
this exchange rate does not differ from the rate prevailing in the market rate (i.e., the interbank exchange rate)
and the rates u

rvp20182:
Quote of the day for poor Ghanaian CEDIS.

The vice President, H.E Dr Mahamudu Bawumia is famously reported to have said that “when the economic fundamentals are weak, the cedi depreciation will expose you”

And Just30 - Ghanian currency is managed float regime- not free floating.

NairobiWalker:
Why was the Ghanaian president assassinated?

mtisTheQubit:
Truth be told, since Chinese landed in Africa you can see progress...I myself can say much progress occurred in our country after we divorced the IMF an her sister

mtisTheQubit:
IMF used threaten us way back...we cut loose an faced east..things are great now...

mtisTheQubit:
Vaxx you niggas know nothing about IMF..Why do you think many countries avoid them...you are new in the game...

mtisTheQubit:
IMF colony..

mtisTheQubit:
effed country

Kennyswagzz:
while lagos state is better than the whole of ghana

GENEGIRIA:
very stvpid people-clueless kenyans. i didn'r realise kenyan was such a backward sh1thole a stvpid kikuyu will always remain foolish. they don't see beyond mt kenya
[s][/s]

vaxx2:
Do you know their case is even documented under the UNO watch?

kikuyu1:
NIGGA,WTF!? Do you need more evidence!? There are hoe-tels purely of underaged not to mention what your 'traditional priests' get up to with the trokiso at their 'shrines'.


http://theconversation.com/girls-in-west-africa-offered-into-sexual-slavery-as-wives-of-gods-105400

LYING MOFO!? Srsly,dude those are human lives-ARE YOU SO PSYCHO TO FEEL NOTHING AT THEIR COLLECTIVE YEARS OF SUFFERING?

kikuyu1:
Tbh,by the effed up social fabric of ex slave cultures you're not doing too badly-I told a Naijjan here to be careful pointing fingers. Worry about this:
https://www.spiegel.de/international/globalsocieties/child-prostitution-in-ghana-hell-on-earth-a-1262055.html

That's only the most recent. This is 2014.


https://www.zammagazine.com/chronicle/chronicle-7/70-the-girls-behind-the-railway-line

From 2017


http://fsugatepost.com/2017/04/14/hearing-the-voices-of-child-prostitutes-in-ghana/

2010

Months after the demolition of the famous Soja Bar at Kwame Nkrumah Circle, a new brothel has emerged at Kasoa in the Central Region where children prostitutes are offering " hot " services. It is located off the Kasoa-Obom Road and has been running for the past six years; Public Agenda ' s checks have indicated.


https://allafrica.com/stories/201002221163.html

Over a decade ago.


http://gvnet.com/childprostitution/Ghana.htm

With the still rampant trokiso abomination this underage hoism is a natural outgrowth. Why else with your developed social welfare system,high GDP and strong cedi why does this well established industry thrive?

Kenyans,here's another terrible look into the socioculture of these ex human traders. I rmbr when I heard it at first I ignored it but now it makes sense. People use religion to Search For Deeper Meaning/Spiritual Enlightenment and Inner Peace but in Naij,Gabon,Guinea,Liberia,Sierra Leone,Cameroon,Benin,Ghana etc ,etc its all about protection and harnessing of evil spirits-which explains this truly satanic episode.


https://www.bbc.com/news/world-africa-20550303

I couldn't confirm that the cemetary is now under 24/7 armed guard but it wouldn't surprise me!

NairobiWalker:
There is no single tarmacked road in Ghana.

Mkenya2019:
Who would turn to the IMF for political reasons? Mahama probably lost the election by calling IMF. Nobody ever wants the IMF. Ghana did not call IMF because they liked it - it because the economy was crashing on Mahama and he had no option except wail and ask for IMF help.

I think you're slowly losing your marbles like your countryman Vax.

As regard kenya SGR - we are long away from defaulting - like 30yrs away - we haven't even touched the Railway Development Levy.

Mkenya2019:
Who would turn to the IMF for political reasons? Mahama probably lost the election by calling IMF. Nobody ever wants the IMF. Ghana did not call IMF because they liked it - it because the economy was crashing on Mahama and he had no option except wail and ask for IMF help.

I think you're slowly losing your marbles like your countryman Vax.

As regard kenya SGR - we are long away from defaulting - like 30yrs away - we haven't even touched the Railway Development Levy.

Mkenya2019:
You like lying. CEDIS in 2014 dropped by 40% - making it the world worst-performing currency alongside your buddies Zambia - and the country was unable to meet it's debt obligation, leading to your pleading for IMF emergency help.

https://www.ft.com/content/195ce3ec-1a5f-11e4-8131-00144feabdc0

https://www.bloomberg.com/news/articles/2014-08-04/ghana-turns-to-imf-for-emergency-help-as-currency-crisis-deepens

Wuoche:
Your arguments are based on rumors, you don`t have facts.

NairobiWalker:
Dude, which pictures? Thousands of pictures have been place on this thread and no single one of them is of an unpaved road in the Nairobi CBD because such a road doesn't exist. Since you claim it does, why can't you post it?

NairobiWalker:
You clearly do not understand a thing between redenomination of currency and rebasing of the GDP.

Jonraid:
For now you might as well shut it!

Mkenya2019:
Then why the double track? Stop lying. Why would you have to send kids away in 3 months so other can come learn? And these are secondary kids.

Jonraid:
Where is the loan agreement? We want a copy of it. Where are you getting all this information?

Mkenya2019:
Is lying a national pastime in Ghana? Why hasn't Nigeria called for IMF bailout when they have had energy crisis lasting decades.

Jonraid:
Post it.We want evidence and real references!

Jonraid:
Do you have the copy of the loan agreement. Post it here!

Wuoche:
Show us the pic stop going round

Wuoche:
I haven`t seen the agreement. Why can`t you post it here so that everybody can seethe agreement.

Jonraid:
Any proof that they own it and determine the workers?