₦airaland Forum

mtisTheQubit:
Vaxx do you want me to call RVP ....coz i think he made valid points that you couldnt disapprove...Kenya might be poor but Ghana is also poor...Why do you think kazi was challenging you...its good to let the story die man...

Except we know only one extremely poor country whos citizens have no comfort than to serve their Indian and Chinese lords.

A poor Ghanaian is still a rich person.

tylann:
stong being mediocre kwame nkurumah was a corrupt a dictator he was overthrown by Ghanaians so how does that go to do with jomo Kenyatta

Kwame Nkrumah was never corrupt and neither was he a dictator.

Nkrumah was overthrown by the CIA


Jomo was a sell out whom After Nkrumah had help his release from Lodwar by the British
when ahead to sell out his country to the Brits just for some small money in his pocket.

That screams of corruption
He fought the progress of Africa at every opportunity he was given just to please his British masters.

Jonraid:
Diplomacy? We have UN bodies here!

Because you are always killing yourselves and require food aids
what better way than to be constantly present in the country that requires your assistance every election

mtisTheQubit:
Now vaxx ya starting to talk like a Nigerian....Unknown Kenya ..we gave Obama to the Americans...we host the biggest U.N thingy in africa ...man go with the facts ...Faking it doesnt mean we agree with you...

The man rejected you to become a US citizen and built his life from a farm labourer

Jonraid:
And thatpost is the beginning of things? Pipe dream at best! Due to protectionism the free trade may end up like the Yamoussoukro open skies treaty.You need to be big to do that,currently your soft power in this continent doesn't even equals Nigeria's one!

Except our soft power has compel Nigeria Niger and Benin to come to the table and solve their misunderstanding

Which has led to an agreement between them.

gallivant:
They failed because their people got fed up with them. You can't blame us for your coups and civil wars.

They got you out of slavery
didnt they?

Even to our dislike of the idea

vaxx2:
Yes they failed becuse of many timid leaders in Africa like jomo kenyata and co.

sell outs who will rather lick the ass of the Brits to get some chicken change in their pocket

handed all their lands to the Brits leaving their 47 million people extremely poor.

Jonraid:
And they all failed? Ha!

Thanks to Nkrumah activism
you are now living in a free country.

Jonraid:
And they all failed? Ha!

they were all successful governments who took their people out of poverty and build an image for them.

Under Nkrumah, Ghana was the most developed country in sub saharan Africa
way ahead such that the US and Brits were scared to continue to allow us to prosper.

Gaddafi made Libya the most developed nation in North Africa
A country that control and prevented the influx of Jihadist into most African countries by keeping a tight grip on security.

What is Kenya contribution to the success story of Africa?
Timid people

Jonraid:
Folks have talked of Kenya's debt here many at times,little did I know that people take Eurobonds not for development but for cpnsumption at nearly 10% price points.

[b]Bolgatanga Central Member of Parliament, Isaac Adongo has revealed that Ghana borrows $10.6 billion yearly to pay for the consumption of goods and services.

According to Mr. Adongo, it is a worrying thing that should be addressed else the Akufo-Addo-led government will plunge the country into doom leaving huge debts behind for the future generation.

Speaking on the floor of Parliament on Thursday after the Finance Minister addressed legislators on the depreciation of the cedi and the Eurobond, the Bolga Central MP said government shouldn’t have gone for the Eurobond in the first place because it is a complete waste of time since it’s not utilised well.

The NDC MP explained that it is appalling to know the current government only borrows to pay for goods and services.

“What is worrying is the fact that there’s nothing now left to pay for goods and services and we go to borrow to pay for goods and services. So if we take goods and services together, you take the difference in wages and salaries, we are borrowing 10.6 billion every year to pay for our consumption...We are leaving a debt for our children without an asset and you’re still celebrating it,” he quizzed.

“It is so serious that if we look at the utilisation of the last two Eurobonds, it is better we didn’t go to the Eurobond in 2017 because if this is what we are going to be doing then this country is doomed...You go to the capital market to borrow and spend on consumption. 630 million of our Eurobond of 750 million was spent on consumption and the Minister of Finance should be worried,” he warned.[/b]

https://www.ghanaweb.com/GhanaHomePage/business/Ghana-borrows-10-6bn-to-pay-for-consumption-Adongo-734101

Ghana's total debt is 38 billion dollars or so

if you had half a brain, you'll know that what he quoted was in cedis
If you know Ghana well like Ghanaians, you'll know that
hes an ugly liar who will continue to spread propaganda to bring his party to power.

Ghana Eurobond was spent on the education sector and the health sector.
His government put up lots of hospitals that wasnt completed
finishing those project is what he is referring to as consumption rather than investments.

Ghanaians are way smarter than that, we spend a lot of time questioning where the government spends our money.

so, we dont wait in timidity for China to come and seize our port.

vaxx2:
With this people fail to know Ghana was very rich at indepence still surprised me? This is the time, foreing reserve is rested on gold not dollars

i wonder what Gadaffi was even thinking when trying to push all these sell out so called African leaders to do something for themselves. He should have learnt from Nkrumah and develop his country in quiet.

rvp20182:
How about Nkrumah took a wrong turn, converted Ghana to communism and over borrowed to build volta or akosombo dam.. country collapsed and never really recovered.He inherited a country literally named Gold coast.Like all communist state that went bankrupt

Nkrumah collapse was because he pushed a timid Africa too far and got international interest against him

He wasted a significant part of Ghana's resources on a timid Africa that was not ready to develop
Giving Gambia money
SA
http://www.scielo.org.za/scielo.php?script=sci_arttext&pid=S0259-01902011000100003

Eastern Africa
https://www.amazon.com/Nkrumahs-Ghana-East-Africa-Pan-Africanism/dp/0838634567

Kazikazi:
Rwanda is not ur big threat.Fear the communists,Ethiopia + Air Tanzania

i think everyone in east Africa should fear Ethiopia

Ethiopia can easily be the next Turkey
because almost all transit from Asia to the rest of Africa passes there.

Kazikazi:
The day I saw Accra I doubted their economic numbers.No way.You can't have a very good performing economy without having a change in physical form.no such a thing.A good economy will consume more cement,but I can't understand where is that cement end up in Accra!

that cement ends up in houses and private offices on every street.

rvp20182:
I like weed . don't smoke except occasional weed that I roll myself..but I am sure gov cannot count the 50 dollars I spend on it occasionally..the guy has to clean his money

Ghana will legalize wee growing for export very soon
The conversation has gotten to parliament and is being discussed.

why is Cigarette legal and wee is not
this is the equity question that is leading the conversation.

rvp20182:
Informal sector is basically under radar..you cannot see it if you stick to emperical data collection.What you try to do is to formalize them..force them to register, have business license, have bank account, bank their money and pay some taxes or levies...but if I go to a slum..and throw a wild guestimate..how will that help.You get into fake 500b Nigeria problem with taxes of 5b if you remove oil .You can as well add Yahoo, marijuana, cocaine to your GDP.

anyway, growing marijuana is not legal in Ghana
If it were, it would be a multi-billion dollars sector in Ghana because Ghana wee is the best in the world.

have a few Ghanaian citizens who came from the UK last 4 years just to come and lobby government to make it legal.
They have acquire huge farmlands the size of Nairobi and just waiting

rvp20182:
Why are Ghanian escaping Ghana like Nigerians? You only see such desperation in war torn countries. Examine their data closely.

fact is Ghanaians are not escaping their country

Ghanaians are travellers we love to travel.

rvp20182:
like seriously? Nigga.

mention the informal sectors in the Kenyan economy

rvp20182:
So we don't default and call IMF.US,China and Kenya are doing the same.These are no laughing matter... defauting like Ghana takes forever to fix.You seethe kind of mess you're..every 3yrs..same problems.You want to avoid the endless negative feedback loop like ghana

Ghana has ver defaulted on it debt ever


Kenya was defaulting on it Chinese debt such that China had to take over your port

that is a mess.

Ghana IMF visits goes with elections
thats to tell you that it is political than economics

rvp20182:
What do you export..gold, aluminum, bauxite and diamond..now oil...those you've done ever since British discovered Gold Coast.They don't take you anywhere unless you diversity.Its like being high on cocaine and then dealing with withdrawal symptoms.You have to build modern formal economy.Look at Kenya..tea is down from 2.7 dollars a kilo to 2.1 dollars..real estate down..but other sectors cover for that.Imagine if we depended on tea..and it goes down 30%..whole economy get a 30% hit.That is akin to shit hitting the fan and we would line up in foreign embassies as economic refugees

i still cant understand why you are borrowing to pay maturing debt

whiles Ghana is borrowing to build industries that can pay the debt.

rvp20182:
How do you measure or estimate an informal economy? it's like calculating GDP of the underworld.You don't do it.You formalize the economy.You turn the small business into SME then into Medium Enterprise then into real Enterprise then into multinational.What is the point of claiming you measure something unmeasurable like informal sector.Kenya and every country has such sector..US doesn't go measuring it's drug sector.It is worth maybe trillion of dollars.You don't do it.There are no credible data .They don't pay taxes They don't exist.Except outside the law.Any data will be a wield guestimate.

there is no informal economy in Kenya

rvp20182:
What do you export..gold, aluminum, bauxite and diamond..now oil...those you've done ever since British discovered Gold Coast.They don't take you anywhere unless you diversity.Its like being high on cocaine and then dealing with withdrawal symptoms.You have to build modern formal economy.Look at Kenya..tea is down from 2.7 dollars a kilo to 2.1 dollars..real estate down..but other sectors cover for that.Imagine if we depended on tea..and it goes down 30%..whole economy get a 30% hit.That is akin to shit hitting the fan and we would line up in foreign embassies as economic refugees

even if we take mineral export like gold and oil from Ghana export,

Ghana still export 10 billion dollars worth of goods that you dont

Mean, a Ghanaian is more productive than a Kenyan

rvp20182:
You cannot have 16 bailout and claim to better manage public finances.Nigeria is a zoo but slightly better in public finances.I think Ghana does well in basics like electricity.

Ghana does not go to the IMF for financial reason but rather for political reasons

Takoradi



https://www.youtube.com/watch?v=oJae8uBr1I4


beautiful Koforidua in pics

rvp20182:
As a low middle class 60% is not so bad and we are working our way down .. recently Ghana had 78% debt to GDP..you cooked the GDP but dent to GDP back up to 60%..the cedis dropping...you are a case study of African banana republic.I use to think Tanzania was bad ..

if Ghana GDP was cooked like yours, our export values would have exposed us

rvp20182:
There are people attracted by 10% yield and will risk in such junk bonds.Now tell me how you'll repay 10% plus currency depreciation of 25%(at best) is like 35% interest rate.It is gonna send you back to IMF ICU room late next year or early 2021.We borrowed 2 eurobond and it was mostly used to retire 700m commercial loan..and the 2nd Eurobond to retire the first one.

see someone talking about junk bonds when Kenya is in a debt burden that is unpayable and investors are shunning the junk bonds you keep listing


By the time you realise, China will be ruling you because you are too indebted to them

rvp20182:
Kenya debt to GDP plays around 40-60..we start leveraging when we get to 40..and debt refinancing when we cross the redline.We can teach Ghana so many lesson in prudent financial management

Ghana debt to GDP is 57%

well withing manageable limits
we still consider it high

rvp20182:
Says a man from a country who have gone belly up 16 times in 60yrs. Ghana goes bankrupt every 3yrs. You're only independent in name. If we were to cook data - we would have long defaulted. We won't have a city as good as Nairobi, Mombasa, Kisumu, Nakuru, Eldoret, Thika...all looks better than any Ghanian city.

Now when it come to Ghana....which is managed by IMF most of the time...what can you really tell us about macro-economics.

I see you've ran to micro-economics - even there - I doubt you'll have it good.

Nigeria and Ghana - despite all natural resources that God has blessed you with - you're still exporting modern slaves like you did in 15-17th century!!!

apart from the 90s Ghana has never gone bankrupt

Jonraid:
The debt decreased marginally,marginally!

so your public debt is 60 billion dollars

rvp20182:
They don't any stats. It very shocking. If you think Yemi Kale is bad - try Ghana. I have gone through their Ghana Stats website. There is such awful lack of data.

you are funny



there is enough data obtainable
fact that you are unable to access them does not mean they dont exist.

Jonraid:
Can they show their debt books in public for all to see?

we dont have a public debt book

though those infos are now public documents that can be obtained from the BOG and Finance ministry.

rvp20182:
Again when it come to macro-economics - you have it worse than Nigeria.

Kenya commercial external debt has risen because we have flouted two Eurobonds (6B dollars)

Here are Kenya external debt register - as of Sept 2019.

and Ghana has floated one this year
for 3 billion dollars and it was oversubscribed by 20billion dollars