₦airaland Forum

rvp20182:
Ghana the land of the golden stool worth 76 billion
copied..
one of the most outrageous bonds out there must be the $1bn lent to Ghana in 2015 at 10.75% interest with a $400m guarantee from the World Bank.A buyer of the bond in 2015 is already guaranteed to get $1.15bn. And they are still 'owed' $1bn, and $860m of interest payments

rvp20182:
Where Ghana is at moment - is called hyperinflation - you should update yourself every few hours; Before you head for the shops; just carry twice the amount of money;

rvp20182:
Debt management is a lot of things. Where you borrow, the interest rates, the maturity.
Kenya has one of Africa best debt management - despite our debt rising lately.
For example - compare kenya, nigeria and ghana external debt.
See where each borrowed from, for how much, and for how long - and who has pressure.

The pressure shows up in macro-economic indicators like currency, inflation, interest rates. Ghana is literally bursting the seams - and Akosombo is about rapture. Nigeria is not far. Kenya is very stable.

Ghana and Nigeria - most of their external debt is commercial - and as you know (if you do) - govs are not designed to be profitable.

They only become profitable when they grow taxes or revenues. Kenya is doing well there. Ghana and Nigeria are not.

Majority of kenya debt are concessional loans from adb,imf, worldbank, japan, france and china. Those ones can forgive you like they did Nigeria in 2005 - what was that 35B dollars written off. Their debt is more AID.

Now where problems start - Zambia and Ghana - you take eurobonds - and you soon die.

gallivant:
Right, you should be plotting your escape to Europe on a dingy like every other young able-bodied Ghanaian with ambitions in the future.

gallivant:
Right, you should be plotting your escape to Europe on a dingy like every other young able-bodied Ghanaian with ambitions in the future.

obaaderemi:
Abi. An insider already spoke. This one you are replying will keep twisting you around with projections and lies.

obaaderemi:
The minister who had more information than this boy already rubbished the sgr deal. Why are you still having a back and forth with this one that knows only what he reads on nairaland?

Shma2022:
Go and lie to fools. International monetary fund and WB are both projecting your debt to GDP at 100+% by the start of next year.

You're currently doing a whopping 78% with nothing to show.
https://theconversation.com/ghana-and-the-imf-debt-restructuring-must-go-hand-in-hand-with-managing-finances-better-191877

rvp20182:
Slowly - before we go for profitability - did you offer cocoa beans as collatoral or not. You already offered bauxite recently.

gallivant:
It's already been extended to Naivasha. The one to Kisumu rehabilitated. Why do you spread lies?

rvp20182:
In short you're ranting in something you barely understand.
SGR is already past Naivasha.
We want it extended to Kisumu - another 230kms - then Uganda border- another 150kms - then Uganda extend to Kampla - and congo

Now how much did you spend in your railway?

Mkenya2019:
You did when building the BUI dam. You gave China cocoa beans as collateral.
The cocoa beans were sold at the prevailing market price rather than a fixed price, and the proceeds were placed in an escrow account with China Eximbank.,

Which loan terms are favourable?

On September 25, 2007, China Eximbank and the Government of Ghana signed a buyer’s credit loan (BCL) agreement worth $292 million for the Bui Dam Construction Project. Then, on September 3, 2008, China Eximbank and the Government of Ghana signed a government concessional loan (GCL) agreement worth RMB 2.1 billion. The BCL carried the following terms: 17 year maturity, 5-year grace period, and an interest rate of CIRR plus a margin of 0.75% (6.13%). The GCL carried the following terms: 2% interest rate, 20 year maturity, and a 7 year grace period. The GCL is captured in Project ID#30810 and the BCL is captured in Project ID#183.

Collateral
The cocoa beans were sold at the prevailing market price rather than a fixed price, and the proceeds were placed in an escrow account with China Eximbank to facilitate loan repayment (and provide a source of security for the BCL). Then, once the dam was operational, the cocoa agreement

rvp20182:
Mad cow,
We paid 3.2B including rolling stock, inland port and 28 km of bridges for wild life - for Nairobi-Msa - 480kms - total length 650kms.
We paid 1.5B for extension to Naivasha including another inland port - 150km - including 5 km tunnel via rift valley.

Now tells what you're comparing this with - and mad cow - let us have at least an intellectual debate for a change.

Shma2022:
I am glad that you're concerned with our paltry debt. Yours is beyond concern.

rvp2018:
This academic research showing 1.5 percent GDP impact post construction... That almost two billion dollars annually.Most of you are envious because our sgr is Africa most successful https://www.researchgate.net/publication/358166206_Impact_of_the_Standard_Gauge_Railway_on_the_Kenyan_Economy#:~:text=Findings%20The%20country%27s%20Gross%20Domestic,46%2C000%20jobs%20for%20local%20residents.

vankelvin:
Do you need extra sheet?
Make the story long cos I won send am to your ancestors to read

Mkenya2019:
Where do you see KPA in that?
KPA signed a take or pay with Kenya Railway.
This same thing you signed with independent power producer.
You dont expect China to loan us 5 billion dollars without some collatoral.
You gave China farmers cocoa beans as loan collatoral - at least KPA is owned by Gov of Kenya. KPA can sell few shares and pay china loan.
But Ghana...how do you collateralize your poor farmers farms and their cocoa?
In case you fail to pay...China will take farmers cocoa beans for free until its repaid.
Then you went ahead...gave chinese aluminium and bauxite as collatoral for your railway loan.

Shaytun:
China don run Kenya street

rvp20182:
I have seen report that SGR has contributed 2-3 percent during and after construction.
If you do the calculation at 115B dollars...1 percent GDP is 1.15B...therefore every year...SGR is contributing about 2-3B dollars annually to our economy.
For a 5B investment - that is great multiplier.
One good example - impact of SGR on coastal tourism - nowadays domestic and foreign tourist find it easy to hope into train and go to Mombasa to spend their weekends at the coast.
Before SGR - you either flew or took an 8-10hrs bus ride or drove - which discouraged lot of people from visiting the coast.
As of now SGR is fully booked until January.They are going to add more coaches.
Those are kind of impacts you cannot measure - on tourism, port, transport, safety, - nobody goes measuring the impact of our road infrastructure...but because it's shiny chinese built railway...people want to have it profitable. Anti-chinese propaganda.
Basic infrastructure dont turn profitable in that sense...they dont have to...gov will use taxes to pay for it...they turn profitable as a multiplier or enabler.
How much do countries invest in road infrastructure annually? Is there anyone going out there measuring when the roads will become profitable??
Heck I doubt there is a railway in the entire planet that is profitable - almost all are subsidized - because they are like roads - they are the enablers/facilitators of the economy.

theenchanter:
Not yet uhuru.

QuietMynd:
Uhuru is crazy


https://www.youtube.com/watch?v=Dh8QCA0K4Ns

vankelvin:
[/b]
Kyeres3 the thing doesn't even make sense

vankelvin:
No
I don't trust Western region people
There is a sharp division within the people of Western region .

Takoradi, Secondi, Tarkwa, Prestea, Bogoso etc will as usual vote massively for the NPP whereas all the Nzema areas will also vote massively for the NDC.
Sefwi people were the ones giving the NDC the advantage in Western Region but they have their own region so Western Region is now a 50/50 territory for both political parties.
The most hardworking Party will win that region

vankelvin:
Greater Accra region and Central Region will do the magic in 2024

vankelvin:
Never trust Kumasi people
They will make noise, wail and talk about the hardship they are going through but last minute to election they will tell you *NPP is our Party and it's the best party for Ghana* so they will go and vote same old way .

The worst decision a typical Ashanti will take is not to vote at all but if they will vote paa dea they will vote NPP.
That's what my friends always do
They will talk saa but las las they will vote for NPP

vankelvin:
[/b]
succinctly put

aguerogh:
Do you actually live in Ghana?

vankelvin:
I wonder how people are able to support their political parties even in bad times? I mean how? People should learn to vote base on issues and not on political lines

If today Nana Addo decides to give me 100billion Ghana cedis I will take the money and still vote against NPP in 2024

gallivant:
Cedi is the worst performing currency in the world. I am not trying to rub salt on the wound but I think you are being delusional with your outlook of the Ghanaian economy.

vankelvin:
Perfect reply
[b]

NTSA:
I think the intended message is already home.