₦airaland Forum

rvp2018:
Why would I re-calculate - read the chart. Ghana Total Net reciepts 2.9 Billion dollars. Kenya 4.4B. I know you're looking for moral support from the Baboon from the Big Zoo. I am always ready to have adult sane conservation. Not madness.

still not comparable

You shouldn't be this much dependent on aid

rvp2018:
Unless IMF deal comes; the panic and the profiteering will lead to economic collapse. Ghana badly need IMF bailout.

While you wish for collapse in the Ghanaian market which is more sophisticated than yours....

Your citizens can't even afford basic stuff at this point in Kenya because of the massive price hikes in everything.

Which ever way you look at it, Ghanaians are far better off because of the high standard of living.. an adjustment in cost of living will hit their pockets but they'll be okay.

Small adjustment in Kenya and already 18 million Kenyans are starving.

obaaderemi:
Rest. Nobody understands the nonsense you are typing. You are hurt. Rest.

rvp2018:
Obaboon, why would be desperate? I dont know own Kenya or Nigeira or Ghana. These are countries.

So the OECD site give Ghana 1.5 billion for 2020 and Kenya 3.5 billion or so

You really don't have to be desperate all the time
Just be factual

rvp2018:
I put the link there. Are you obtuse or what?

and when you calculated this, your dumb maths knowledge got you 2.9 billion?

obaaderemi:
He's always desperate.

it's sad

rvp2018:
https://public.tableau.com/views/OECDDACAidataglancebyrecipient_new/Recipients?:embed=y&:display_count=yes&:showTabs=y&:toolbar=no?&:showVizHome=no

Ghana 2.9B dollars versus kenya 4.5B dollars - per capita wise - same?

I like the way you enjoy Inflating numbers just to try and equalize

Ghana
2019- 936 million
2020- 525 million

Where did you get 2.9 billion from ? You don't always have to be desperate

gallivant:
Ghana is ripe for an economic bailout. You can clearly see your economic miracle...

https://pbs.twimg.com/media/DzS5ED1WsAADwTT.png

https://pbs.twimg.com/media/Faze-0IUsAEhwck.jpg

https://pbs.twimg.com/media/FZ1mSoQXkAAJcgP.jpg

It has already begun to recover it loss...

That does not wipe away the fact that Kenya is in a worse mess hence your country declared bankruptcy by defaulting on it debt

rvp2018:
I dont see OECD - I see an intern who wrote 3B dollar of Aid. I'd love to see 24% from OECD. I dont dispute that Kenya as country receives a lot of AID- but Aid that goes into gov budget in kenya is almost 0.001%. The Aid that goes into NGOs - yes that is a lot. The UN by mere presence in Nairobi alone contribute 1B dollars.

I know you like to dispute facts

Is IEA Kenya an intern ?

You don't like to read, if you did, you would have seen the 24%..

Those aid are govt to govt funding and not NGOs funds so they come exclusive of the fundings NGOs sort after considering the fact that Kenya has the largest number of NGOs on the continent

Last year you received 4 billion dollars in direct funding to govt programs

rvp2018:
Madcow - put the link - and reduce school yard pranks

https://ieakenya.or.ke/blog/foreign-aid-and-the-challenges-in-kenya/

Crazy child
I like the way you don't know much about how broken Kenya is.

rvp2018:
Madcow and the usual madness.

I know things like this surprises you as a Kenyan who is crazy because you usually know nothing about Kenya.

The OECD saids so for Kenya 2022

gallivant:
When is Ghana officially defaulting on it's loans? Have you set a date?

you'll have to wait for eternity because Ghana is not broke like .... We haven't even reached the stage of restructuring debt to talk of defaulting.

rvp2018:
Jan 20, 2022 — In the current financial year, on-budget development cooperation constitutes. 8% of the public budget.

Kenya was in that position 30yrs ago - maybe 1999 - when budget support from AID was that high.

You've made progress esp with magufuli going rogue - it used to be 60% of Tanzania budget was foreign aid

You're talking as if 24.1% of Kenya budget is not foreign aid dependent

Kazikazi:
Am trying to compare turkana and gatundu.
I think this gatundu needs Alot of my time.I must use my torch to see what is underneath of that area.

Gatundu,gatundu,gatundu.....


https://www.youtube.com/watch?v=JvN7NKtDYdg

The first time I had jigger in my foot, I was in Monrovia..

I'm surprised jigger can't be found in Ghana. That can of infestation must have something to do with bloodshed.

Please stop posting nasty stuff, it makes my skin crawl

Kazikazi:
Dont say every year.
Just say since independence in 1962. That is nearly 70 of starving.A world record actually.

that's just despicable.,.. I don't know who is worse between them and North Korea

samorobo:
Lol this is funny.
I am not surprised tho,the zoo has 18m the inhabitants jostling for grain every single day,and gets even more scarier know that this numbers rise every with little or no support from their govt,save for fostering global communities to donate a few grain into their begging plastic bowl.

A country is not a serious country if every year, it has to be placed on display to solicit funds for half it population...

I only see such stuff in war torn countries like Liberia, South Sudan and co

A continuous urban Megalopolis from Abidjan to Lagos

There is one place above all that should been seen as the centre of this urban transformation. It is a stretch of coastal west Africa that begins in the west with Abidjan, the economic capital of Ivory Coast, and extends 600 miles east – passing through the countries of Ghana, Togo and Benin – before finally arriving at Lagos. Recently, this has come to be seen by many experts as the world’s most rapidly urbanising region, a “megalopolis” in the making – that is, a large and densely clustered group of metropolitan centres. When its population surpassed 10 million people in the 1950s, the New York metropolitan area became the anchor of one of the first urban zones to be described this way – a region of almost continuous dense habitation that stretches 400 miles from Washington DC to Boston. Other regions, such as Japan’s Tokyo-Osaka corridor, soon gained the same distinction, and were later joined by other gigantic clusters in India, China and Europe.

rvp2018:
Nigeria with all the Oil still have begging bowl out.

Focus more on Kenya begging bowl and the fact that 18 million Kenyans have to depend on usaid despite your phantom growth

rvp2018:
Dollars or cedis

dollars

rvp2018:
The rand recovered. Nominal GDP remain at USd level. If rand had not recovered - South Africa GDP would have dropped like Angola from 140 to 70B - and now it's climbed back to 125B.

Ghana with 50% external debt - how does the weakening of CEDIS not affect you debt. You'll soon have 200 % gdp to debt - without any extra borrowing. That is how countries go down.

fortunate enough, Ghana GDP will be 84 billion by end of year

rvp2018:
I think IMF need to revise this - your nominal GDP has sunk by half - meaning your debt to gdp is now more than Zambia.
I dont think anybody predicted this crazy month in Ghana

Last year it was 82 percent.

Stubborn facts.

You did this same nonsense with the South Africans and you were educated here on how GDP calculations work.

Don't repeat same dumb excuse.

Last year it was 82% and this year's August, it dropped to 68%

Next excuse

rvp2018:
I put chart out there today from IMF. Your debt to GDP is next to Zambia (113) - Ghana(95%). Kenya is steady at 69% for last few years.
Our 115B dollars economy generate 20B dollars plus in revenues annually.
We can re-pay our debt.
Your economy can barely collect 5B dollars.

that is just a prediction kiddo

My debt to GDP stands at 68% and it will drop further with the increase in size of Ghana's GDP and overall economy... it stands at 400 billion cedis ..

Even if your country reduce public spending spending and cut down the size of it public sector, it will still not be able to repay it debt.
You have 12 billion dollars obligation and your revenue is 16 billion dollars .. Your total wage bill is 51% of revenue

Do you see what I'm seeing?
Where will you get money to run your government and pay your debt obligation?

rvp2018:
Leading indicators
50% depreciation this month=HyperInflation.
Prize removed from supermarkets
Business closed because traders cant figure out the hell
Importers have shut down.
Bond has been classified as Junk.
Credit rating is now C -

Kenya has not defaulted on any loan - and we are okay - we took the early warnings seriously - and we are fortunate Ruto is now president - and is fixing the problem head on.

You never heed any warnings until it's too late.

No business has closed down apart from Game that decided last year to pull out of both west and East Africa.

Yes Ghana credit rating is downgraded because of it liquidity issues but if both Ghana and Kenya should go to the market today... Investors will be more than willing to loan to Ghana than Kenya because they will trust Ghana's ability to pay back more than Kenya that has defaulted on it obligations.

rvp2018:
A dead animal is food for vultures, hyenas and eventually bacteria. Dont think you dead economy will not attract debt vultures, AID workers, IMF undertakers and whole litany of that industry. Some will be coming to create news and content on how much cedis you need to buy bread in the morning and in afternoon!

The Ghanaian economy is more alive than that of Kenya
Everyone knows that your economy is non existent... It's been dead for 4 years now.

How will you compare your economy to mine which has an export valuation of 27 billion dollars and import of 11-13 billion dollars?


At this point you're just typing madness out of frustration.

Better start creating manufacturing ventures in your country so you'll stop importing 20 billion dollars plus worth of goods

rvp2018:
If you managed Oil & Gold - you won't have to borrow.
Always remember the money you borrow is someone money
They are loaning it at profit to you.
So we need to be careful and watch the country bottomlines - debt to gdp - etc.
Way before you get into trouble.

Anyway that problem with democracy - you have to compete on projects launched, kilometres of roads - and everyone just end up borrowing - and pushing the can down to next regime.

You're just not smart kiddo ... You don't seem to know why you borrow ...

Yet Ghana has a better debt to GDP than Kenya and Kenya has no means of being able to repay it debt at the moment and that is why youre defaulting on all your obligations.

You have an obligation of 12 billion next year because of how stupidly your country borrowed to spend on nothing.

rvp2018:
Look at leading indicators madman. Not lagging.You can't afford to repay debt. The default now is inevitable. Where will you get the dollars.

Talk Nicely to Nigerian here - one may take you to wash their dogs or teach their kids better English.

So you agree we haven't defaulted on any of our debt obligations

You're just too stupid... Ghana debt obligation for 2023 is 3 billion dollars and half year inflows into Ghana sinking fund was 1.5 billion dollars. A fund specifically created for situations like this...


Your country is so broke that your creditors are slapping Kenya with fines for defaulting over the last 4 years even with 2 IMF programs and debt relief.

Is that why Kenya's are rushing in Ghana for prostitution?

rvp2018:
Madman - and the usual madness. You are facing hyperinflation. The last one send you to Nigeria. Prepare to cross borders and become Nigeria slaves

Is it Hyperinflation that is driving lot of Kenyans to Ghana to come and hustle ?

Or they are just escaping their miserable lives in Kenya for something better in Ghana?

rvp2018:
They will never be complete now. My formeramerican colleaque told me Ghana is mortuary of half-completed projects.USAID first assignment when they get US peace corps in Ghana is to take them to tour them .

You were over-ambitious - and thought you could take money - and use it. You need to think about lean times. It not easy as just taking money out there

All the projects initiated will all be completed...
Anyone who know Ghanaian political scene knows that most times projects are intentionally delay in order to be used for political campaigns..

This is some of the reasons why the living standard of a Ghanaian is twice yo thrice as better because we are not afraid to provide better infrastructure for every Ghanaian.

Try that and maybe Kenyans will advance

rvp2018:
Ghana I warned you!!! Look like by time IMF deal is decided in January - tears will be overflowing.

Steve Hanke
@steve_hanke
Thanks to the sky-high cost of living, Ghanaians don't know the price of anything anymore. Now, over 30% of businesses in the export & import industry have COLLAPSED. Today, I measure #Ghana's inflation at a stunning 101%/yr.

keep following that guy and his wrong calc.

With all the inflation in Ghana, Ghanaians are far better off than Kenyans are faring at the moment.. That should tell you how high the standard of living of Ghanaians are

rvp2018:
Ghana and Zambia default was easy to predict - as they gorged themselves with dangerous eurobond (commercial dollar debt with flexible exchange rate - very risky very dangerous)

I did this four years ago - repeated in 2020 - 2021 - they didnt listen

Now they are desperate for IMF. I pray they get IMF deal because the alternative is very bad.

Ghana hasn't defaulted on any of it debt obligations... We are not Kenya


Not every country is runned like the way Kenya is stupidly being runned by fools such that even all the relief that Ghana negotiated for Kenya, you guys still managed to default on your debt.

rvp2018:
Ghana run by a bunch of imbeciles did what nobody could imagine doing.
With COVID-19 disrupting global economy and occasioning economic shutdown
They went out there and borrowed commercial loans from Eurobond.
1st in Feb 2020 - they got 3B dollars.
March 2021 - they went again 3B dollars.
At this point - every rational Gov knew the exogenous risk from COVID/Ukraine war made such borrowing very risky.
Kenya and Nigeria were shopping for cheap IMF loans. Heck even South African run to IMF.
Kenya gov even squeezed in a debt moratorium during covid from G-20 debt relief
Ghana said nope - such actions will lower our credit rating - and we want to continue gorging ourself with free Eurobond dollars!!!!!!!!!
Ghana refused the commonsensical prudent approach - and dived head on to the risky waters- when nobody else.
Now it's tears.
The same Credit Ratings have now declared Ghana C minus. JUNK. Like Sri Lank/Lebanon/Argentina.
Defaulting is almost inevitable now.

Here are their own Ministry of Finance very happy to be 1st Sub-Sahara Africa country to float Eurobond in corona period

They didnt care the risks that external commercial loans like Eurobond would bring
1) Forex exchange risk - with CEDIS now dropping almost 100% dollar - the debt has doubled 100%.
2) Interest rate risk - commercial interest rise anytime - I think Ghana is now paying 20% plus

IMF was created to reduce such risk because they give you concessional loan with long maturity and often zero interest.

https://mofep.gov.gh/press-release/2021-03-30/global-investors-demonstrate-strong-support-for-ghana-fiscal-plans-and-revitalization-strategy
Ghana returned to the International Debt Capital Markets as the first Sub-Saharan African Sovereign to issue in USD since the onset of the Covid-19 pandemic, achieving a record size in excess of US$3 billion and enhancing its market access through the use of a 4-year Zero-Coupon Tranche, which is an innovative market-oriented solution to address post-covid-19 challenges and improve the cash flow required for debt servicing.

You're just dumb.... It was one of the smart things to do..


While you kept using COVID as an excuse, it had little to no effect here

rvp2018:
Try say that in Twi. Maybe the sense is lost in translation. It doesn't make sense.

Economics is not your thing.. so I won't waste my time.

Convert it to Swahili and maybe you'll understand