₦airaland Forum

vaxx:
if this trend continue, then more further gain from the cedis.

In reality, the cedis is indeed under-valued

not anymore

The market corrected it

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

https://www.youtube.com/watch?v=gqSKXQ29vmw

Real reason why the Cedi is appreciating so fast is.


BOG now is the main middle man for Gold Export in the country so they have Dollar inflow of about $30m every week. But in the past two weeks, they surpassed their target and accumulated about $120m per week.

rvp2018:
BEST OF LUCK First I'd like to see what IMF has forced you to agree to. Delusion has to be one of thing you give up.

IMF hasn't forced us to do anything.

The IMF recommended an increase in resources available to the govt... The govt increase it revenue target by 44% and with the help of the Cedi Appreciation, they're looking at 25 to 26 billion dollars. They're doing this without even increasing taxes except for VAT.


Man.. I hope Kenya recover from the deep mess it is in

rvp2018:
You see you're mental deranged because you think Ghana has already recovered when bond holders are being told to wait earliest until 2027...and last person to be paid is 2037.

You suffer from delusion. Get treated.

Everyone knows the the country has almost fully recovered.

most of the bonds renewed were only going to mature in those same years of 2027,30 onwards.
Renewing them protests bond holders from principal loses as they were trading in the negative.


You're suffering from Kenya economic pain ... Moral relativism and a terrible sense of economics make you make stupid comments just to prolong arguments base on facts

Keep crying, you'll wake up tomorrow morning and the Cedi will be at 7 or be at 7 by the afternoon.

Forex gurus are already predicting the Cedi at 5 to a dollar because of the data they are looking at

rvp2018:
The madness. I want Ghana to prosper. In real. Not in make-believe. You know I supported Ghana until Kazi Kazi opened our eyes. Develop your country and we shall support you.

But now you're bankrupt. The only support I have got for you is REALITY CHECK.

And now you should concentrate on getting out of the bankruptcy.

We are going to watch Ivory coast who have recovered from a civil war and are doing great.

Funny lunatic rant

My country is more developed than yours .. I will take a develope your country advice from SA because they're more developed than us but not a country far below us.

A country that can fully pay it debt and is doing so can't be described as bankrupt. Kenya can't and that is why we all say Kenya is bankrupt.

The Ghanaian economy has almost fully recovered.
As everyone knows, Ghana has never really needed the IMF and this is also so. The money is not needed and so is their ambit not needed as senior economist have advice them to stop looking for political cover.

Cry more

rvp2018:
Mad cow will not understand. He need a year more to understand why IMF is crucial. He still believe the problem will go away like a bad dreams.

In his brain - he will wake up one day to find 3 cedis is a dollar

I've never seen a man cry this much over the economic prosperity of another country

If the rate stays here, Ghanaian GDP is 100 Billion dollars

But it won't stay here because I learnt the Central bank is targeting a rate at 6 or 7 cedis.

This means they are looking at a GDP of 143 billion dollars for next year.

vaxx:
Agreement usually does not mean disbursement. At least at this level , we hope the situation now will improve investor confidence and improve the foreign exchange. Most importantly.

Exactly so...
Those two I mentioned usually takes longer and it will especially take much more longer in our case because NDC will make sure that should they approve this agreement, it wouldn't constrain their governance come 2024.
There's more hurdles to this agreement not being approved

vaxx:
Ghana finally reached 3 billion dollar level agreement with IMF today.

it's only staff level , actual approval and parliamentary discussion approval can only happen by 3rd quarter of next year.

vaxx:
Dollar hoarders upon seeing current
cedis exchange rate

Cedi now trading at 9 cedis to the dollar

The Gold to Oil and Gold reserves are really pushing the cedi upward at a speed.

At this rate, it will be trading at 3 cedis to the dollar before year end.

rvp2018:
I googled search "Central bank of Kenya sells dollars to support shilling"
The last time they did this was 2020.
The last two years CBK has not intervened on the forex market.
And Kshs is doing great.

Meanwhile Ghana gov has tried severally to intervene - has basically emptied usable forex reserves - and were last seen around Galamseys trying to grab small scale gold. They were hoping to buy oil with gold

The small-scale gold diggers got wind of it - and have run to Burkina Faso.

And a sweaty Ghana gov official was finally seen on sunday announcing to the world - We are Broke We are Bankrupt until 2037 We cant pay

cries of someone in a dire economic situation ranting nonsense because he has very little economic knowledge.

Why are you Kenyans always throwing tantrum when an intellectual discussion is being had and you guys are finally cornered after you hit the depth of your knowledge?

rvp2018:
Time as always is the arbiter.
Kshs has depreciated 9% - globally all currencies are down 8% on average
So Kshs is doing great - and will clawback if need be.
Though I think Kenya would like to keep the Kshs at 110-120...for some time....so we can become regionally competitive.
IMF complaint was that KSH was too strong at 100 to dollar...now at 120...everyone is happy - except for importers.
Opportunity for them to look inward
Debt wise - we only paid 5.5B kshs...about 50m extra from forex losses...so it's not a big deal.

It would be a massacre if we were Ghana - and Kshs would now 220 to dollar....from a high of 330kshs.

That is how crazy Ghana is. Kshs just moved from 115-120 in a year.

Tell that to your fellow Kenyans.

You're govt has no fiscal space with a managed exchanged rate and that is why when you experienced a 150% inflation last 2 years a last year, you had no option but to start defaulting and ran to the IMF even after WB debt freeze.
That's how mad Kenya is, using the limited forex you have to keep a managed currency while the entire market suffer badly from the effect.

Ghana just had to allow the Cedi take the shock over a 3 months period in order to protect the market and now everything is recovering at a faster pace. We are looking at a 30% recovery
You'll wake up tomorrow or close of week and the cedis had recovered all 54% of it loses depending on where the central bank feels it comfortable for Ghanaian producers.

Go enjoy your day

rvp2018:
Lol mad cow; drop to 3;
We can only speak after seasonal dollars flowing from Ghanians visiting home for xmas is over.
Then external debt restructure and then IMF deal.
Dont get carried away by dead cat bounce.
In fact, next few weeks international trade takes some break until January

Globally there is weakening of dollar as people speculate what Fed will do....so many currencies recovering with Ghana leading.

We dont know yet how the Fed will act..today they US will release their CPI and tomorrow the fed meeting will decide on US interest rate...this will determine where the dollars will flow - back to US or overseas.

bunch of nonsense from a lunatic

Cedi is appreciating because of a huge trade surplus, a further decline in import pressures as the finance ministry and BOG just removed a huge trade pressure off the dollar and then there's a reserves diversification and increase.
And then the derivative market has realized the debt hullabaloo was just hot air, after looking at the economic data which are all in the positive.

I don't like to talk much in a game of tic for tac political diplomacy. It's far beyond your understanding, especially when you can't understand simple economics



Why is the Kshs not appreciating ?

kkins25:
I'm trying to understand your statement, the drop of the dollar isn't a good thing?

it's a good thing but if it drops too much and too fast, it creates other problems.

kkins25:
dollars or cedis?

dollar rate

ProblemChild1:
Beautiful town. I love it

yeah

vaxx:
Change your $ b4 it's too late

the rate at which it is dropping, without intervention from the BOG to stop it appreciation, we might end up having a problem because with this momentum, it can get to 3 before the year ends.

How did it drop from 12.39 to 10, over night.

New Arrival... Holland America lines, 1000 passenger 400 crew at Takoradi harbour for the Takoradi Masquerade party

From the beaches to the hills to the resource reserves

Atimpoku nature's tranquility

The mountains breathing down your neck like Switzerland

Beautiful beach front of St Charles, winneba

Temale grassland is the most beautiful you'll find anywhere in the world.
Responsible for Ghana current 1.2 million tonnes of rice production. Equivalent to a 2 billion dollars industry in turnover


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

Little village of Agmatsa

Peninsula

Juaben

Juaben ... Quite a nice clean town with all it roads tarred

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

rvp2018:
Waste of time and money - building interchanges instead of building the roads.
Secondly insitu casting of interchanges is last century
Try to pre-cast the columns and erect them in a fortnight.

Another forcing of Kenya inabilities on us.

The road is already built.

You even don't know when precast is preferred and when it's not. We don't put precast when you're building that high with the kind of wind gusts in the area where you're looking for Strength, longevity and insulation.

Precast itself is as old as insitu
I know you're used to terrible engineering work in Kenya, when your country come out of debt default and start finding investors that will trust it with money, you can do those terrible engineering ideas there.

The kind of abundance of projects that Kenya won't be able to carry out over the next 10 to 15 years because Kenya is bankrupt.
Tema beach road and interchange


https://www.youtube.com/watch?v=0TZTqW1iL1U

rvp20182:
WB and IMF are day and night. learn the difference mad cow. WB dont do debt bla bla. They offer development loans. IMF are the cops. Everyone listen to IMF. If they say Ghana is sick - everyone stops.

cry more

Poor education made your reading skills as bad as your peanut Brain..


IMF just rejected your govt plan to prove debt sustainability because it didn't make since and now seeing you borrowing to pay salaries while you gave them a planned that said otherwise, they may just slap you guys back into the deeper mess they were trying to pick you up from.

A dead Kenya is causing Kenyans so much suffering

No wonder the shillings is crashing

rvp20182:
Kenya is on the verge of obtaining a Ksh.92 billion ($750 million) loan from the World Bank Group as the country moves to tie down cheap financing.

On Tuesday, Treasury Cabinet Secretary Prof. Njuguna Ndung’u disclosed the government was in advanced talks for the loan disbursement even as the value of the facility falls below its expectations of accessing Ksh.122.7 billion ($1 billion).

“The proposed package under discussion with the World Bank aims at promoting sustainable, resilience and inclusive growth. That will also promote human capital development as a major input to economic management,” he said.

“

yeah a technical way of saying I can't pay wages and I'm obligating the WB to help me pay my workers while on a death bed at the IMF.

No wonder your debt sustainability plan was rejected by the world bank.... They are saying you can't keep adding concessional debt when your country is bankrupt with a 140% debt to revenue

rvp20182:
WB committed to lend kenya 5B dollars in 5yrs; Low interest or zero interest loans; Give up; IMF has yet to even accept to admit you to ICU. You're in the casualty and IMF doctors are still debating if they get you a bed or send you to the morque direct. WB is not even in the picture...who lend someone defaulting.

IMF has to first admit you to ICU and do serious treatment. Then WB and rest will lend to Ghana. Then bilateral lenders. Then in 2040 - you can float bonds again.

WB is not in the business of giving free money to a bankrupt country.

After failing your debt sustainability stress test, WB will not give you even a penny until you shown how you plan to be liquid