₦airaland Forum

rvp20182:
Ghana - look like Ghana debt sustainability is complete - and unlike the mad cow theory that they had liquidity problem - they actually have structural debt problem.

Now we wait for the market reaction . This is essentially a Sovereign Default.

This could essentially lock Ghana out of both domestic and foreign debt market.

chrisooblog:
I would be more worried about Kenya if I were you.

jl115:
5th not 52nd

chrisooblog:
I would be more worried about Kenya if I were you.

AfriqueDuZuid:
SA has more boer participants

obaaderemi:
Psychological projection is one thing they're good at.

jl115:
I think Shma thinks R1 is better than being in a Final he said and I quote " the gap is huge"..............Ironically He was in fact right

gallivant:
Fixed, shackman.

obaaderemi:
Psychological projection is one thing they're good at.

jl115:
Spoken by a man who has no idea what the Davis cup is

AfriqueDuZuid:
being ranked in top 5 is no easy task

The highest a kenyan was ranked is 100

Shma2022:
Bozo, Davis cup is like armature boxing. It' s inferior to professional.

The Grand Slam in tennis is the achievement of winning all four major championships in one discipline in a calendar year, also referred to as the "Calendar-year Grand Slam" or "Calendar Slam". In doubles, a team may accomplish the Grand Slam playing together or a player may achieve it with different partners

And yes, I know davis cup.

Shma2022:
Winning any grand slam tournament is not easy either.
And it Depends on the season. Her track record reads otherwise --- her season was favorable.

rvp20182:
We have handled the situation better. We are out of trouble domestically. Liquidity is back to debt market. Last bond was oversubscribed. Gov offered a switch bond recently - and got very good subscription.

Externally - kenya remain locked out of debt market - but we are cutting our expenditure anyways.

What Ghana has done is to declare they are BANKRUPT

This is sovereign default; this is Sri Lanka and Lebanon.

Now wait for the music

rvp20182:
Nigeria is next after Ghana.

Thanks to sky-high inflation, Nigerians don't know the price of anything anymore . Today, I measure Nigeria's annual inflation at a soaring 51%/yr. When will Sleepy Buhari wake up?

jl115:
your girl has never won a grand slam tournament so what you on about?.... Also we ain't talking junior titles but the actual thing

Shma2022:
She has won junior grand slam. So?

jl115:
I'm talking about grand slam tournaments or majors not a grandslam.... You should've known this since you were also referring to majors when you said grand slams.

Secondly the Davis Cup is the premier international team event and all the best players play in it.... Don't let me embarrass you again

jl115:
that's not an actual grand slam tournament

gallivant:
Awesome. Do you think bullshit countries like Nigeria and Ghana stand any chance? A simple Yes or No would suffice.

jl115:
well done... Some more Kenyan inferiority love it!!

rvp2018:
You can entertain Africa all you want with DRC - right from the poverty capital. This is not very important.

Meanwhile, somewhere in Kenya…

pic.twitter.com/uGdMxDGG3p

— Instablog9ja (@instablog9ja) December 5, 2022

jl115:
Muppet............ John Kriek won 2 Australian opens, Kevin Curren won 4 doubles grand slams, Frew Mcmillan, won 5 doubles grand slam titles , Sandra Reynolds won 5 grand slam doubles titles , Danie Visser 3 doubles grand slam titles.

Then Kevin Anderson and Wayne Ferreira make your blokes record look like childs play

Meanwhile, somewhere in Kenya…

pic.twitter.com/uGdMxDGG3p

— Instablog9ja (@instablog9ja) December 5, 2022

jl115:
I think Shma thinks R1 is better than being in a Final he said and I quote " the gap is huge"..............Ironically He was in fact right

Just40:
I like how you're technically dumb on things you don't understand....
When negative credit events happens or market liquidity dries up, bond prices decline.

That is not a sovereign default and hasn't gotten anywhere close to Sri Lanka or any of those... Kenya is more closer to that.

I guess you've not heard of moratorium or obligation restructuring.

This is what Solvent but illiquid looks like...

The government has increased it spending by 120% while exchanging it domestic debt for a longer spread option to free up itself. It is only using 30% of revenue or so to pay debt and another 18% to pay wages.

Kenya had no option than to cut spending by 40% according to IMF recommendation even after years of debt free and suspension.

Likewise foreign bonds are going to take a 30% principal cuts as the prevailing market conditions are.

obaaderemi:
This is the elephant in the room, Boy.

rvp2018:
Try Twi mad man.
Today you officially defaulted like SriLanka
The consequences will be dire.

rvp2018:
Get latest default risk ranking

Just40:
I know these things are beyond your understanding but that is what a debt sustainability review looks like.

You can ask for economics lessons....

There no real bad consequences..


Far better than the Kenyan govt cutting down on expenditure and entering austerity.

Yes Bright Simons write well and is a CSO

obaaderemi:
That's what's available unless you have something more recent, which will still present Kenya in bad light.

rvp2018:
You have defaulted.
You wont be able to pay for anything until 2026.
The rest are details. Your banks may not survive this. So withdraw your savings early and dollarized. Sell anything you got and buy dollars. You will need them.
We now wait to hear if you will similarly default on external debt
That seems inevitable.