₦airaland Forum

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

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.

Just40:
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:
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:
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?

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.

Just40:
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

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!

Just40:
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:
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:
You starting to sound like KaziKazi with one chart. Yes growth matters - Kenya banks are growing 20% in capital & assets - while Nigeria arent (unless they are mergers) - and we havent factored the Naira has depreciated more than KShs (black market rate now trending to 800 naira to a dollar

So by end of this year - things will again change - with Kenya banks rising across the board.

When your bank surpasses ours then come back for this conversation,otherwise you are just splitting hairs abd heckling.
Sounds like a wet dream to me. We are talking present abd you are talking about a future they doesn’t exist. Can’t you see how daft you sound.

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.

Just40:
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:
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:
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

Which bank? Bank of Ghana? Do you even understand the role of a central banker?

Kenya Central Bank is independently and proffesionally run - and always almost make profit.

Kenya's central bank pays $33 million dividend to state
Sep 30, 2022 — The Central Bank of Kenya (CBK) on Friday announced that it has paid the Treasury a Ksh4 billion ($33 million) dividend to the state.

samorobo:
When your bank surpasses ours then come back for this conversation,otherwise you are just splitting hairs abd heckling.
Sounds like a wet dream to me. We are talking present abd you are talking about a future they doesn’t exist. Can’t you see how daft you sound.

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.

Just40:
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:
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:
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?

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.

Just40:
--ranting of a madman

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

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.

Just40:
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:
You starting to sound like KaziKazi with one chart. Yes growth matters - Kenya banks are growing 20% in capital & assets - while Nigeria arent (unless they are mergers) - and we havent factored the Naira has depreciated more than KShs (black market rate now trending to 800 naira to a dollar

So by end of this year - things will again change - with Kenya banks rising across the board.

As usual. Always waiting to catch up.
Gallipig, look at the specimen you were hailing.
Kikuyu1 is wiser now. He no longer follows this punk blindly.

theenchanter:
wait for per Capita....

I was actually expecting the ninny to say that. And na im bring the charts. He didn't check well.

You should be catching up with south africa and egypt - not waiting for smaller country - 4 times smaller in pop and twice in land mass - without minerals - surpass you - as is very likely.

obaaderemi:
As usual. Always waiting to catch up.
Gallipig, look at the specimen you were hailing.
Kikuyu1 is wiser now. He no longer follows this punk blindly.

rvp2018:
You should be catching up with south africa and egypt - not waiting for smaller country - 4 times smaller in pop and twice in land mass - without minerals - surpass you - as is very likely.

Nigeria. 6



Kenya. 3.

Only because Ngozi Okonjo-Iweala forced your broke banks to merge. You have what - 16 banks now. Kenya has 40 Banks. I think more than 10 are now in Africa Top 100.

obaaderemi:
Nigeria. 6
Kenya. 3.

And just wait for one more year --> Ethiopia is about to happen.

The same week Abiy Ahmed announced that his cabinet has agreed to a draft proposal that would open Ethiopia’s banking sector to foreign investors.

--> These gaps in lending, financial inclusion and foreign investment are also what has made Ethiopia’s banking sector attractive to foreign investors. Kenyan banks, for example, have had their sights on the Ethiopian market for years. Two of Kenya’s largest banks, KCB Bank and Equity Bank, already have representative offices in the country that carry out trade or export finance activities while waiting for the Ethiopian government to implement reforms to allow them to do more.

rvp2018:
And just wait for one more year --> Ethiopia is about to happen.

The same week Abiy Ahmed announced that his cabinet has agreed to a draft proposal that would open Ethiopia’s banking sector to foreign investors.

--> These gaps in lending, financial inclusion and foreign investment are also what has made Ethiopia’s banking sector attractive to foreign investors. Kenyan banks, for example, have had their sights on the Ethiopian market for years. Two of Kenya’s largest banks, KCB Bank and Equity Bank, already have representative offices in the country that carry out trade or export finance activities while waiting for the Ethiopian government to implement reforms to allow them to do more.

There is no money in east and Central Africa. How many times do you need to be told that. This regions are the poorest and the armpits of Africa. You would loose your shirt before your first anniversary there.


However when that happen(will never happen) come and hit us let’s us celebrate you, otherwise is just you romanticizing a wet dream.

Stop troubling this thread with your day dreams and aspiring vision. Make it happen first.

You're almost 30yrs late. East Africa is an Africa success story that began about 20-30yrs ago. Sustainable fast growth not financed by minerals. It already caught up with West Africa (Minerals), has overtaken Central Africa (Minerals), and is on heels of Southern Africa(Mostly Minerals). North Africa is far ahead.

If you bring DRC (100M) plus Ethiopia(120M); you already have Nigeria before you add the traditional East Africa. That is why Kenya banks have the ability to beat your Banks 2-3 times.

DRC congo already has given them almost equal footing to Nigerians banks. Next is Ethiopia. That should take them closer to South Africa.

samorobo:
There is no money in east and Central Africa. How many times do you need to be told that. This regions are the poorest and the armpits of Africa. You would loose your shirt before your first anniversary there.


However when that happen(will never happen) come and hit us let’s us celebrate you, otherwise is just you romanticizing a wet dream.

Stop troubling this thread with your day dreams and aspiring vision. Make it happen first.

rvp2018:
Only because Ngozi Okonjo-Iweala forced your broke banks to merge. You have what - 16 banks now. Kenya has 40 Banks. I think more than 10 are now in Africa Top 100.

Zenith our number 1 bank never merged with any bank. It has always and will always be bigger than any kenyan
bank. And okonjo iweala had nothing to do with banking consolidation in Nigeria. That was Charles soludo. We can lend him to you to help you reform your weak banking sector.

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.

So 70% is steady to u

Streets of Nairobi

rvp2018:
Only because Ngozi Okonjo-Iweala forced your broke banks to merge. You have what - 16 banks now. Kenya has 40 Banks. I think more than 10 are now in Africa Top 100.

Okonjo Iweala didn't do that.

Okay let do this.
Obasanjo did it.
Okonjo did it
Soludo did it.
The brains everyone knows was Okonjo Iweala.
If you could only tap her and many nigeria brains.
You wont be such a zoo.
Problem -> Your northern goats and sheep and cows rule you.
Buhari

obaaderemi:
Zenith our number 1 bank never merged with any bank. It has always and will always be bigger than any kenyan
bank. And okonjo iweala had nothing to do with banking consolidation in Nigeria. That was Charles soludo. We can lend him to you to help you reform your weak banking sector.

Nobody in world will listen to a fool like Soludo - Okonjo MIT & Harvard 1st grade brain is sitting pretty in WTO - 1st woman to do so. Soludo is typical Nigeria con.

And I couldnt agree more with Okonjo Iweala... he could well be describing Obabaoon here and typical nigerian.

Mrs. Okonjo-Iweala, apparently livid, described the former CBN governor as “an embittered loser in the Nigerian political space” who is “so derailed” to “commit intellectual harakiri by deliberately misquoting economic facts and maliciously turning statistics on their head to justify a hatchet job”.

“Soludo has shamelessly pandered to so many past leaders that Nigerians are asking one more time – what position is Soludo gunning for now?” she asked.

“There is definitely an issue of character with Prof. Charles Soludo and his desperate search for power and relevance in Nigeria. Nigerians should therefore beware of so-called intellectuals without character and wisdom because this combination is fatal,” she adde

GeneralDae:
Okonjo Iweala didn't do that.