₦airaland Forum

obaaderemi:
Overspending on projects? I hope it's not corruption.

Yes... On projects

There are too many projects dotted around the country and at various stages of completion

GeneralDae:
Even at this terrible state, the Ghanaian economy is much more expanded (bigger) than it was before and there are more investments than in the past.

In 2005 when Nigerian economy was expanding under Obasanjo we were having very high inflation and depreciation of the naira than we even had during sanctions in Abacha's military.

The only issue with Ghana now is that they have been shut out of the Eurobond market indirectly because the interest rates are high and lenders consider their debts unsustainable.
The exchange rate is also depreciating too fast.

With the coming of the IMF, they gain credibility again to borrow next year from international market. The lenders would believe the IMF program can help Ghana manage their debt properly.

failure of govt to achieve it revenue target because of a delay in various production unit coming online... This was the trigger to the suspension of access to debt market

obaaderemi:
I really don't know what happened to Ghana. They have a small population and natural resources. I have a feeling lack of investment and the unbridled debts did them in.

overspending and a delay in investment returns

rvp2018:
They soon will not afford to buy bread leave alone internet bundles

you think Ghana has turn to Kenya er?


I just need more data... Every sector of the Ghanaian economy is doing well with an explosion in manufacturing capacity...

Watch Ghana export jump from 24 billion to 27 billion by 2023 end

New one in Kumasi

Village roads in Atiwa

https://www.youtube.com/watch?v=NGiCYM2t3yU

Shiiiit East Legion Hills is almost fully built up
Main roads almost completed


https://www.youtube.com/watch?v=tgWZ50sbNNs

kikuyu1:
Classic hobabble!


https://www.urbandictionary.com/define.php?term=hoe%20babble

grow a pair of brain cells kiddo

rvp2018:
You're already worse than Sri-lanka. By end of this week you'll be 100% plus.

We are going to watch the melt-down before xmas.

That's the benefit of having a currency you can allow to take the hit to absorb the economy.

This is what your policy makers was so afraid of so they run with their tail in-between their legs to both the IMF and WB last year.

Now your economy is taking that hit which directly put Kenyans in the firing line

rvp2018:
Make sure you let your desperate gov know about this genius idea. They are desperate for anything. Including such moronic madness.

You are a slowpoke who usually don't know much so I don't expect you to.

rvp2018:
Which toolkits do you have.
You cannot borrow internationally from anyone - except if IMF agrees to a new deal.
You have been blacklisted with credit rating of zero - cc JUNK
Locally you already asking debt holders you want to negotiate.
You're in a Lebanon/Sri-Lanka crisis.

Again currency strength is not being 1:1 with dollar; You tried that and you failed;

Japan Yen is 151 to a dollar. You dont think your now useless cedis that is losing value every day is stronger than yen or south korea woun 1,500 to dollar or even veitnamese 24,000

Strength of a currency is stability - and KSH is very very stable.

Well we are busy borrowing internationally since that wasn't the problem...
The tool kit I'm referring to is the fact that we can make cedi even more valuable than it currently is at absolutely no cost.

At this point, the Kenyan economy is more on the level of Sri Lanka and Lebanon than the Ghanaian economy.

Good you know that currency strength is not being 1:1 so you'll understand why the Cedi remains top 4 on the continent most valuable currencies.

The strength of the Cedi is it tradability

rvp2018:
That was big mistake. When everyone was running to IMF - you refused for their early intervention - because you were keen to go back to Eurobond where nobody would ask questions - and current president had promised never to go to IMF - so it was a political potato.

Now you're going to IMF in an ambulance....and IMF are not sure if they will admit you.

If CEDIS freefall is not addressed now - the hyperinflation will kick in - Cedis will go to 20, 30, 100, 1000 as negative feedback loop lead to a freefall.

In no time you'll be back to printing 50,000 cedis note just to buy bread.

Ghana is not sure it is even going to the IMF as the look to be no need for that looking at the toolkit in the central bank.

Currently you're at 122kshs... I'm more worried about you guys having to print 5,000 and 20,000 notes for bread more than I am worried about Ghana.

My war chest is strong and we can build it up at no cost

rvp2018:
It's good that you have such organization -I see there is even one for beverages - impressive- but the issues here are cross-cutting broader economic issues - best addressed by all Ghanians - and cedis right now is just on a negative feedback loop - look like by monday it might be 15 cedis to a dollar.

Your country is tinkering on the tip - hyperinflation will kick in - if the negative feedback loop is not arrested - and this can only be done by nailing IMF deal as soon as possible

Otherwise Lebanon and Srilanka like financial crisis is landing in your shores.

in the mist of what I've seen in our toolkit, none of those scenarios will happen unless the govt chicken out to blackmail.

IMF is not on the table at the moment just like how we refused the WB debt payment freeze that Kenya subscribed to last year which required that you subscribed to an IMF bailout.

rvp2018:
And the most stupid because USD exchange rate is beyond Ghana gov It cant control it; They are not the US Fed Reserve Bank

It's quite sensible when the business class act to put pressure on govt. There's no docility in politics here.

They are not talking about the dollar but the Cedi.
They're talking about VAT and the new invoicing introduced.

Every govt has control on their own currency exchange policies and the Bank of Ghana has a Broad policy scheme to intervene which it hasn't done yet because govt has stayed their hand to proceed cautiously.

rvp2018:
Ghana traders closes shop for 3 days as Cedis near 13 to a dollar - the next SriLanka/Lebanon.

https://www.youtube.com/watch?v=ui_Fi1TnY1A

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

The most powerful pressure group in all of Ghana political history

GeneralDae:
Of course it can't happen this year because the IMF would insist on some form of internal debt restructuring and cut down on expenses. This takes a while. The deal may likely be agreed on by March 2023.

That's the thing, I'm not referring to a deal.

I'm referring to a formal intent to engage the fund... That hasn't happened yet, what is happening is just backroom communications.

No deal has ever happened that quick... Possibly by end of next year or may never happen

GeneralDae:
Kenya is in thesame soup with Ghana by any economic report you look for out there on highest risk of debt default in Africa. The only difference is that Ghana has been downgraded by Fitch and Moody but Kenya hasn't.
While Ghana could easily solve this problem with the IMF in short term and gold in the long term, I don't know what the Kenyans are doing about theirs.

Ghana may not end up going to the IMF, it hasn't formally engaged the IMF yet...

Possibly it will happen next year

PROVERBZ:
I don't know anything abiu this project but ask again. It's not 3billoon USD.

It's a 100,000 barrels per stream day refinery being built at a cost of 3 billion

3 billion dollars new refinery ongoing steadily at Tema

vankelvin:
Make your age make sense small
You have gotten too comfortable with foolish comments

When did Akosombo dam bankrupted Ghana ?

Take it for a false equivalence.. because SGR bankrupted Kenya

Tema motorway

More than One Million Ghanaians visit the Kumasi Central Market daily... As part of effort to curb vehicle traffic in and around the market, A Tram system is being developed for the entire Area and possible removal of all vehicles from it vicinity.


https://www.youtube.com/watch?v=RHWmfRX7dKs

Progressing fasted to remove traffic from the East Legion tunnel

https://www.youtube.com/watch?v=JGOz6fMcdvc

rvp20182:
This huge 5.2B dollar investment that cannot turn profitable that fast.
This our Akasombo/Volta dam
Akosombo dam bankrupted Ghana
At least we are still standing.

Because SGR bankrupted Kenya, so you must assume every country went through same to equalize.

unless you didn't do any feasibility studies, it should be making profit by it second year.

Akosombo dam started making profit by it first year of operation after construction.
Bui dam started making profit by it 1st year of operation and same with Ghana gas.

All these companies finished paying their loans by their 4th to 5ft year of operation.

vankelvin:
Boakra Inland port

yeah

rvp20182:
Nairobi Matatu can make such profit

what has stopped your SGR from copying your matatu that make such profit?

vankelvin:
[/b]
Not exactly
Tema-Mpakadan rail-line is over 95% complete
Next is Dabre Inland port and that project will be fully completed

Western rail line is also progressing steadily

he has no idea

The Inland port closer to Kumasi is also under construction

rvp20182:
https://www.mrd.gov.gh/downloads/MoRD_2021_Annual_Progress_Report.pdf
About 21million cedis. Chicken shiet. 1.9M dollars. Very useless.

It's still a profit over it operational cost over one line

Something your SGR can't do at the moment

rvp20182:
That could be financial of anything. Put the link.

Those are audited financials of Ghana railway company

rvp20182:
You just need to see the trends. You had a large diaspora because your gov basically collapsed in 60s until 2000s.

Actually, you have a larger diaspora than Ghana bust Ghana generate more from it diaspora than Kenya

rvp20182:
It carries percentage of cargos whose final destination is NAIROBI. It cannot carry 10M destined for the region. It cannot carry other destined for other cities. All it need to become profitable operational is to carry 7m. 20M is when we complete the whole of it.

In meantime Ghana railway remain a dream...construction at snail pace.

Ghana railway is already making profit on the 165km line in operation.

And we already have almost 1000km of SGR already constructed

Their financials below

rvp20182:
You companies are desperate for kenya proffesionals. They hire a Tanzanian - you cannot even compose an email or construct a sentence in English. Your education system is total complete UTTER FAILURE.

Kenya diaspora earning will this year close at 4B dollars - next 1 or 2 yrs - will overtake Ghana and become 2nd to Nigeria in Africa.

I wait to see that day

rvp20182:
There is no hurry in Africa. This railway is going to last 200yrs. The old British one is clocking 120yrs and still operational - going all the way to Uganda daily. That is one that is working now...doing 1-2 million metric tonnes.

there's a hurry when you keep burning that much cash when you so badly need it