₦airaland Forum

TayserMahrii:

lets see what kenyatta willsend his people to come and learn again

maybe Waste management
or City planning

mtisTheQubit:
Check ths..

Decades of high inflation devalued the new cedi, so that in 2007 the largest of the "new cedi" banknotes, the 20,000 note , had a value of about US$2. The new cedi was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. It has since fallen to about 20% of its original purchasing power when the currency was redenominated.

where did you get this dumb shit from



as i told your guys, you need to learn

3 zeros was removed to make to revalue the Cedi from a 1000 count to a 1 count.

TayserMahrii:
We're talking of tagging cedi 1:1 to dollar. In fact you gave yourself a slight .02 headstart and tied it 1 : 0.98

the Cedi was already 1:1 to the dollar

when we revalued the Cedi, that was when it became know to others.

TayserMahrii:
All those are Ghananunu blogs

The photo below is in your national archives

keep learning

TayserMahrii:
I heard a joke that a certain American singer visited Ghana when the cedi had tanked to the low hell...so after spending a few days and he was paying for all expenses he converted the amount from dollars to cedi. The calculator couldnt cope

I heard Kenya is now exchanging livestock for more loans

mtisTheQubit:
ok man explain the bolded...its good to learn

no one needs to be carrying loads money in bags just to make a deposit.

slashing zeros is a revaluation process

when you are counting, you dont count from 1000

TayserMahrii:
You have too many loans son. For the next 4 decades you have only one job to do which is to pay Eurobond loans. Kenya has never defaulted on a single loan.

sorry

learn the difference between loans and debt

our debt adds up to 38 billion dollars and we are using our revenue to pay


Kenya's debt is approaching 80 billion dollars that it cant pay and therefore borrowing more so that it wont default.
But we all knows how that story ends

TayserMahrii:
Thats not your money. Rem you are working on a export for infrastructure model.

VALCO is 100% owned by the Ghanaian government hence it is Ghana money



we will list it on the Ghana stock exchange after it becomes more profitable

TayserMahrii:
Funny enough, Ghana has borrowed to cover several decades of its economy but along the way they will be borrowing more . You guys are related to debts

Everyone borrows

what you borrow for is what matters

Ghana borrows to build factories to grow it economy
Kenya borrows to back the ksh, pay debt and pay salaries.

This is the reason why Kenya run a huge trade deficit

mtisTheQubit:
look you said cedi had more value...so the option was to devalue it..you don't devalue by slashing zeros...you actually making it more stronger...
do you understand economics man..just asking

yes the Cedi was too valuable

we didnt devalue by slashing zeros
we slashed zeros to make the currency light and later devalued to make the economy grow.

That is the basic economic explanation you will get.

TayserMahrii:
Are you saying Ghana was under no obligation to save the lives of the foreign nationals? If not so, then why did they die if not for your weak health system. We also have infected foreigners

im saying that

The virus is more deadly to people 60 years and above.

Ghana cases are mostly young people who returned to Ghana because their schools in Europe have been closed.

Does Italy,Germany and spain have weak health care system?

You cant save certain people from dying of this virus

TayserMahrii:
Noooo there's nothing to learn from Ghananunu Ghana is like a pet (pussycat)

You have always been a learner and always will you be.

mtisTheQubit:
the bolded doesnt make sense ma..to devalue your currency you add more zeros..you dont remove..

Removing zeros is to make the currency more liberal and handy and accounting more easy.
Devaluing make the economy grow.


when you learn, you will know the difference

TayserMahrii:
Why then did you drop the three zeros in the previous cedi ? You should have allowed it to be weak as hell then, and boost your non-existent exports.

to make accounting more easier and the currency more liberal

The currency had too much value and it was strangling the Ghanaian economy.
After doing it, the economy of Ghana has quadrupled


why has Kenya been borrowing to keep the ksh from falling on the forex market and thereby strangling it economy from meaningful growth?

TayserMahrii:
Do you have Chinese loans?

yes we have

A billion dollars built a gas plant and the gas plant has finished repaying the money in just 2 years of operation.

400 million dollar dam which has also paid it debt.



How long will it take for kenya to finish paying it rail loans ?

TayserMahrii:
Your sensei said its natural resources like bauxite that is being auctioned. He never talked of factories like you. Natural metals mined from the ground do not lack markets esp in industrializing countries like China. the only thing you needed was equipment to mine and add value to it.
Speaking of factories, Ghana learnt the hard way that building factories is not enough to turn Ghana into an industrialized economy. You need supply of tomatoes for a tomato factory to make sense. I can see why you gave up on industrializing and ran to the extractive sector. You want to be like Dubai, where you do nothing, the foreigners get what they need from you and build everything from you

he mentioned Aluminum

One of the largest aluminum plant in Africa will soon be running at full capacity.
meaning an additional 2-5 billion dollars increase in Ghana export volume.

tylann:
USA is already industrialized
China is industrializing so by around 2030 it will overtake USA

no point made here

TayserMahrii:
The only other country to have issued a long term bond like Ghana was Argentina and see how they have become a permanent member of the broke club.

The Argentinian economy is 100 times better than kenya's

Only broke economies borrow using short term instruments all the time
Because no one trust their economy to loan them money for a longer period.

it is all about Trust

tylann:
Which productive the tz economy was set to grow at 4% before coronavirus struck
Tz is highly indebted poor country

They dont run a huge trade deficit like Kenya
That is a sign of productivity

TayserMahrii:
Talk about the resource-for-infrastructure deal introduced by prof. These corona talks are in bad taste, dont think you negros have a grasp of what lies ahead. You already have more than triple the infections in Kenya and you're still dumb enough to bring covid. You have 5 deaths already son! So far Kenya has outdone you 3:1 on infections and 5:1 on deaths.

Yeah
we give our citizens the opportunity to return from Europe

They have a better chance of survival in a health care environment that has not yet been stretched.
Out of the 5 deaths in Ghana, Only 1 Ghanaian has died of it.

The rest are a Norwegian and Lebanese who were above 60

aww

you are still bleeding over that letter

but we all know that since independence, you've been learning at the feet of Ghana.
Even you constitution was a copy of Ghana's.

TayserMahrii:
The letter was fake. No Kenyan minister was pictured holding it or sanctioning it.

Meanwhile in Ghana during the day when you were declaring self-deliverance from the shackles of aid, your president decided Nairobi, Kenya was going to be the biggest show of intent
What a joke of a country

TayserMahrii:
You just told me you gave up on your natural resources and told foreigners they can exploit all of it so long as they can build a few roads and brothels in Kumasi.

no one is exploiting Ghana resources but Ghana

Keep crying

TayserMahrii:
It only highlights the peculiarities of Ghana's tiny economy. Normal economies are behaving the same way. When other countries' currencies start gaining ground the Cedi will go back to doing the opposite.

Ghana Beyond Aid was always a farce

See your president saying: F it!! These niggas dont know me, I'm going to scare the hell out of them with Nairobi"

The Cedi will be allow to fall to make Ghanaian goods more competitive than Caribbean and other south American countries goods.

An advantage for Ghana to increase it export.
Unfortunate for Kenya, it cant do this because of a huge debt burden

tylann:
And China has three times USA population
So USA fairly doing well

an even greater advantage for China to continue to Grow faster than the US

tylann:
Tell us about his performance in office

TZ has made it economy more productive thereby growing it economy above Kenya's.

Kenyatta has ridden kenya with debts it cant pay

TayserMahrii:
How can it be prudent when Ghana is slowly turning itself into another Congo. You should never let foreigners get a freehand on your resources. You must be very nice lap dogs in those countries' circles.

funny

Have you seen your country loan agreement with China?
I have seen all the loan agreement between my government and China.

TayserMahrii:
Exchanging your natural resources for infrastructure is very dumb of Ghana. Why not get a loan to build the capacity to extract those resources and earn good money. Now I see how your Gold has left you with nothing.

You are dumb as usual

The biggest problem in manufacturing is how to gain market share.

Using a loan agreement to buy get market share for your manufactured goods is way better than building a factory with loans but the factory can sell it produce.
THIS is the difference between kenya and Ghana

Kenya is an import dependent country running a huge trade deficit
Ghana is a productive economy running a growing trade surplus.

TayserMahrii:
Keep playing dice with with your wobbly economy (and cedi). The 40 yr bond was not warranted, you're just trying to borrow your way out of trouble.

Dont forget Kenya has issued several similar short term bonds that were over subscribed by up to 4.5 times because bonds are regularly oversubscribed.

Sorry kiddo
we are not Kenya that is borrowing it way into more trouble.


Prudent economic management means, you produce your way out of trouble and that is what we have done here.

for 7 good years, Ghana expenditure on import bills has reduced while export has consistently increased.

It is unwise to borrow using short term instruments

Because we have consistently been saying, your country is broke and loan dependent

TayserMahrii:
Why is Ghana of all people complaining that Kenya is seeking access to similar monies from IMF when Ghana herself has been running to IMF for decades now. The only time Kenya got any sort of assistance from IMF if t all must have been during Nkrumah's reign. We've always had a precautionary facility at the IMF in excess of $1.5 B which we have never had to use because we are not like Ghana.



Kenya is only taking precaution because the govt needs to refund taxes to businesses in the next two to three months as agreed locally to cushion businesses and livelihoods. Its not bailout like Ghana.

TayserMahrii:
Ghana beyond Aid was a farce bro. The reason you will not be given that money yet is because big daddy is afraid you will misuse it by dancing around in funny stool festivals. Covid has just cemented Ghana's eternal marriage to Bretton wood institutions. Your president tried his best to free Ghana from the shackles of IMF and WB but ultimately he has been forced to bow down once again. You're never freeing yourself from the chains

Sorry kiddo

The $100 million earmarked for the fight against COVID-19, announced by President Nana Addo Dankwa Akufo-Addo, has been made available to be disbursed, Finance Minister Ken Ofori-Atta told Parliament on Monday.

The finance minister just transfered 100 million dollars from our sinking fund into The COVID emergency fund whiles Kenya is still waiting for IMF money.
Also, My finance Minister is waiting for parliament to reduce the cap of Ghana stabilization Fund so he can redraw 200 million dollars to support small scale businesses.While he awaits parliamentary approval to access 2 billion dollars to cushion other businesses in Ghana from Ghana Heritage Fund.

World Bank has provided 35 million dollars to Ghana, if we want it.

always high

Problemkid1:
But look at Uhuru? What kind of man is this for crying out loud