₦airaland Forum

Shma2022:
From your @ss or what? Do you know the meaning of BAILOUT?

Ghana with all the resources and infrastructure deficit is wallowing in debts( with 17 straightforward bailouts) how does this sound to you?

Kenya needs IMF more than any west African country. Ghana is not drought-infested like Kenya, why are you borrowing too much?

I guess you debt know what EFF and ECF are .. that is what a bailout is

With all the resources in Kenya, you're in your 24th IMF bailout and still want to borrow more

Ghana debt is 54 billion dollars which is peanuts money

rvp20182:
Borrowing from WB is brilliant if they can give you 3Billion - run for it.
Most of their loan are zero interest and long maturity - 30/50yrs.
Who wouldnt not want to borrow such "free" money.

Unfortunately I doubt the WB can loan us 3 billion.
This is why WB need reforms - and the South Africa/China/Brazil thing - was trying to come up with alternative bank - because US/EU have refused for WB/IMF to be capitalized...so it can respond to development needs better.

This why we have Africa Dev Bank, East Africa Dev Bank and say Asia Dev Bank.

What countries should be very careful with is commercial loans with variable interest like Eurobond or borrowing from say Citibank US.

Interest risk and short maturity risk - that is the problem. If interest rise to 30 percent like now in Ghana - how will gov of Ghana pay - it has to increase taxes 30 percent - impossible - if there is COVID/Ukraine - and you have 4yrs to repay - problems.

Kenya is broke abd without any profitable ventures to use debt to invest into... Any additional debt is just a death warrant

rvp20182:
Maybe one of Ghanian here can help us understand this. Write in Twi.

noise

You have nothing else to say... While your president is telling you he won't borrow... He's busy taking 3 billion from WB

GeneralDae:
Kenya with Tea as their biggest export is having a debt profile of over 80 Billion dollars close to that of Nigeria (100 Billion dollars). Madness.

complete madness

rvp20182:
Ghaana gone...Steve Hanke


Ghana Statistical Services reports that inflation has hit 40.4%/yr in October—a 21-yr high. That's the official rate. It's WRONG. Today, I accurately measure Ghana's inflation at a stunning 156%/yr.

Your country just took another 3 billion dollars from the world Bank ... Keep sinking yourself deeper into this debt crisis you're facing .

The Ghanaian economy is busy growing on the back of manufacturing at a rate higher than expected.

Ghana will spend next year going through a disinflation process that will see inflation drop to 15%.

That means everything in Ghana will be a lot more cheaper than it is in Kenya currently is.

As we speak, Kenya has been suffering from hyperinflation for the better part of one year now. How are you guys even managing with those high prices?

Shma2022:
Vaxx my G, you're spot on. The only problem I have with you is peddling inaccurate information about Kenya. Understand what is BAILOUT, first. then distinguish it from the NUMBER OF IMF ARRANGEMENTS/DEALS.

FYI, we've only been to the IMF 22times since 1975. Out of those, 17deals were fully-fledged and the amount was drawn.

You forgot to add the 2 bailout you signed unto last year ..

That should bring you to. 24... Good boy

Shma2022:
Your government is saying that in 2017 when your total road network was documented, you only had 18000km. 5yrs down the line, you've only added 68km of tarred/PAVED road. The rest (4000km) is a rehabilitation of the existing network: asphalt overlay/ re-carpeting, re-cycling, upgrading, etc.
2021 data from the same source(denoted with *) is an estimate/ projection. Which never came to fruition. So don't quote me with guesswork.

Heck! You're abnormal. If you can't read and comprehend, that is not my problem. If you can't believe the data from your 'own' government, then you're an unredeemable buffoon. I need to leave you in your utopia of fantasies and delusions.

everyone can read except you ...

Keep writing thrash while tourist are busy thrashing your roadless country

QuietMynd:
Me reading ur nonsense post

Damon is savage

theenchanter:
tales by moonlight.

since when did you become a writer ?

Perfect title

Kazikazi:
if you don't have lime,just import lime but not the whole clinker. Remember clinker contains so many stuff including sands (silica) which am sure u can source them locally

it is better we import clinker than having to truck sand to factories as well

obaaderemi:
Just Yesterday. Gosh.

yeah.. just yesterday

obaaderemi:
imf, Chinese and Indian property.

What do Kenyans own again? Cause I'm struggling to find

Mkenya2019:
When you're Ghanian who doesnt understand prudent debt managment - you wait till 2025 - or is 2024 - when you need to pay principal of Eurobond for like 3 billion dollars - and crush and die.

Kenya has Eurobond that should be maturing soon - 2024- and the plan was to borrow from same Eurobond - and extend the terms.

Debt refinancing. We couldnt borrow after market went haywire.

We were again doing forward thinking - managing liabilities that are due in the future - not now.

Default is BIG BIG DEAL. Dont think of doing it or even a romour of doing it like in Ghana has send your economy to ICU. And you havent done it.

"Kenya has abandoned plans to re-profile repayments of its first Ksh.243 billion ($2 billion) Eurobond which matures in 2024 after running into difficulties occasioned by higher interest rates.

In disclosures made in the 2022 Annual Public Debt Management Report published earlier this week, the National Treasury said it had targeted to employ a market-based debt re-profiling approach to meet the maturity for Kenya’s first-ever sovereign bond which was issued in 2014."

Ghana has a prudent debt management strategy and that is why we've not entered into a debt crisis like Kenya.
With our prudent debt management strategy, our obligations will only be 3 billion dollars for the next 8 years.


Kenya has been so drugged on debt such that your repayment is taking 12 and 14 billion dollars annually

obaaderemi:
I don't bother wasting my time with that one called gallipig. His brain is subpar.

He has been relegated to only posting pics

Mkenya2019:
Usual madness. You just type any rubbish that come to deranged mind.

As usual... Crazy tantrums from your lying mouth

What will it take you to accept facts that everyone knows.. or do you think you're chatting with kids here?

Your country has a credit crunch such that it can't repay just 700million dollars to it creditors, what makes you think you'll be able to pay it next year when it triple?

You're only delaying the obvious

Mkenya2019:
English is difficult for poorly educated folks like you - Try Twi.

Kenya deffered on her own plans to retire expensive eurobond by choosing not float eurobond after the interest rose.

The Treasury deferred payments amounting to nearly Sh90 billion to this financial year after it cancelled plans to float a $1.1 billion (Sh133 billion) Eurobond last June because of high-interest costs, the International Monetary Fund has revealed.

The Treasury has said proceeds of the failed Eurobond were part of its suspended liability management operations for the financial year ended June 2022 that was aimed at “lengthening the maturity structure and reducing the refinancing risks in the debt portfolio”.

when your debt is due and you fail to pay.... You've reneged on that obligation which is a default

Mkenya2019:
Clinker is made from limestone and clay. Which one do you lack?
You lack the industrial capacity.
Your cement consumption and production is about 5-6 million.

And kenya companies are ones making cement in Uganda and Tz slowpoke.

Like I said we import clinker because we have less limestone deposits..

self-servicer you're busy importing cement from TZ and Uganda with no ability to manufacture in Kenya.

Ghana cement production capacity stands at 15 million tonnes with 12 million tonnes in consumption.... We are busy exporting cement to Togo, Burkina Faso and Benin

gallivant:
Resident madman..

as usual.. a dumb skeletal zombie

gallivant:
You know yourself...


https://www.youtube.com/watch?v=CWArIGL6Pdw

Ghana, IMF colony.

You're in your 24th or 25th IMF bailout

That makes you an IMF property

Mkenya2019:
Kenya is not Ghana. Kenya cement companies are Dangotes of the region.
Kenya has about 10 cements companies - so with factories in Tanzania and Uganda.
There is no single imported cement brand in kenya...Dangote import from Nigeria to sell in Ghana.
Dangote has bagging facility in Ghana.
That can only mean you're terrible.
You import tonnes of clinker....

Generally a country that imported finished goods from Nigeria shouldnt be in conversation here.

As if we don't know you import most of your cement from TZ and Uganda

Yes we import clinker because we don't have much of it.

With our cement production at 15million tonnes and consumption at 12.5 million tonnes for 31 million people... That's a huge boom

obaaderemi:
I was shocked. I wonder what other rots are hidden in that poohole called Kenya. I expected someone like R I P to complain about such things here but they will always pretend as if all is well with them. We've seen Ghanaians and Nigerians here criticize their Governments here.

suffering yet smiling ampa

Another default from Kenya

rvp2018:
Nigeria how much do you buy cement..world worst for years due to Dangotes capture.Kenya has 10 cement companies I think... competition is brutal.. cement is now 600 going to 500.. Nigeria how thousand of naira

do you mean Kenya import 10 cement brands?
Cause last we checked, your tiny production couldn't meet demand

obaaderemi:
They're very good at cooking figures which has not helped them much. Imagine buying cement at ksh1000.

buying cement at almost 9 dollars is quite insane

obaaderemi:
Just40 teaching little Indians economics for free.
A bag of cement going for as high as $10 in Kenya!!
And we had a little Indian saying it was more expensive in Nigeria. I said it that inflation in Kenya is worse than the official rate.

They've seen nothing yet..
They can only cook figures in that their backwater ... The market will expose them

At this rate, is there any Region in Ghana without a massive Road expansion going on?


https://www.youtube.com/watch?v=-sLcIEedKbM

https://www.youtube.com/watch?v=4hS37uPTuDg

https://www.youtube.com/watch?v=Ve-Dr6svVlc

Mkenya2019:
As poor Ghana is getting gutted; followed soon by Nigeria; Kenya is on path to recovery; The new president and his team have great handle of the situation and the market is responding..

David Ndii
@DavidNdii
2024 Eurobond yield 200 bp tumble since Monday. We are getting something right. My sub 10 year end target within reach.

Enjoy your debt crisis
We don't have a debt repayment problem...

Kenya has been suffering under it IMF program for the last 2 years and defaulting... It will take 10 years to get out of this crisis and recover

Mkenya2019:
The madman in his element

madness Is when you have to use two account to comment and act like individual personalities.

We all know those tiny segments you call cbd

Mkenya2019:
Very tiny. 29 acres. You need to fix your economy. Something is wrong somewhere. Accra main CBD and then this 2nd CBD. Nakuru town has bigger CBD than this.

Accra CBD covers a 300 square kilometers area and not the 2km apart Nairobi CBD.
Just the small land around the airport given up for development is 29acres.

My economy is better than yours... Yours need fixing
There's something badly wrong that makes the majority of Kenyans poorer. Why is it not working?

Mkenya2019:
Treasury knows what is revenue and what is debt.
Central bank is Treasury banker.
Some of money in Gov accounts are loans
So again only MOF knows what is revenue - tax, grants, aid-in-appropriation, mineral royalties, dividend from SOES.
And what is coming in as borrowing, what is going out to where, for what.

Central Bank is just a banker for your ministry of finance and regulator of banks. The other role of central bank is to deal with forex.

this is a revenue account and not a loan holding account. And the various revenue sources are listed.

All borrowings go into a holding account before disbursed into various expenditure accounts.
The Central bank as the banker of the govt have a clear understanding of what is what and what is not what.

SOEs dividend, mineral royalties and etc all have their various account to which they are disbursed into.

Next excuse

Such a beautiful city Accra is


https://www.youtube.com/watch?v=jIXkNzkC6YA

Mkenya2019:
Ministry of Finance is custodian of all your revenues. The actual collected revenues for 9 months of last year including all oil/grants was not even 8B dollars.

As for 80B dollar economy - this year - it will be - wait for it - 20B dollars. Right now it about 35B dollars - and we still have few days to xmas.

you forgot all accounts of govt are held with the central bank

I know you abhors facts so I won't waste my time


The rest of your write up is thrash signaling someone trembling to type