₦airaland Forum

Just40:
Actually we are paying for everything as budgeted for in our 2023 budget ...

Actually, our banks will survive it because a special fund was already created for them to make sure that there's no spill over effect.

Seek an education on the bond market before you start posting nonsense as usual

Kenya need that advise more, sell everything you have because the next recommendations from the IMF will be a lot brutal on Kenyans than they're already facing with the Kenyan govt currently unable to pay it obligation for service rendered because IMF has asked the Kenyan govt to cut 40% of it expenditure in order to have some relief in it classic debt default

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

rvp20182:
Eurobond default and haircut.
https://www.bloomberg.com/news/articles/2022-11-24/ghana-proposes-losses-for-eurobond-holders-in-debt-restructure
Ghana Eurobonds Steady as Country Proposes Debt Restructure
Haircut may be up to 30%, deputy finance minister Kumah says
Reorganization needed to make debt sustainable for IMF loan

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.

Just40:
As usual you don't know the terms of a bond .


It is also not a default ... Exchanging bond for new ones which reflect current market prices is a part of bond legal clauses which every investor knows of...
At the same rate their coupon can increase, it can also decrease.

The investors knows the bond market risks and signed up for it

Just40:
As usual you don't know the terms of a bond .


It is also not a default ... Exchanging bond for new ones which reflect current market prices is a part of bond legal clauses which every investor knows of...
At the same rate their coupon can increase, it can also decrease.

The investors knows the bond market risks and signed up for it


Learn ... There are so many tools to create liquidity

gallivant:
Nonsense. Things are getting worse in that zoo. Auction the country before its value depreciate further.

https://pbs.twimg.com/media/FjBHYgfXoAEzOu2.jpg

rvp20182:
Mad cow you truly a specimen.

Just40:
crazy kid... I know these things are beyond your level of understanding

Read a lot more and learn .... Skeletal zombie

Just40:
crazy kid... I know these things are beyond your level of understanding

Read a lot more and learn .... Skeletal zombie

rvp20182:
#Ghana downgraded by #Moodys to #SriLanka level few days ago.

The rest will follow.

I know you dont understand these things until you see blood on the streets.

It's coming. I told you few months ago - that default was coming before xmas.

Just40:
Real blood is what is happening on Kenyan street as austerity measures are bitting Kenyans hard..

With a high level of uselessness in Kenyan finances, your country will be lucky in that volatile region if the people don't turn on your govt with such cuts.

I know you don't know anything about the bonds Market so you think buybacks, exit bonds and exchange bonds are defaults..

rvp20182:
What do you think a default is? Did you expect Ghana to say they will never pay? They have announced unilaterally without any negotiation with bond holders they are unable to pay until 2026. So if you had bought Ghana gov debt - wait for 2026. And you now never know - they will keep pushing the dates - because things are elephant

That is sovereign default.

What will happen - no one will lend to Ghana gov in the next decade or two - because nobody trust Ghana gov anymore.

So locked out of domestic and external debt market - it will only depend on IMF. And IMF will colonize the broke country for a decade plus.

Other consequence on Cedis and interest rate will be clear. The oncoming banking crisis will also be clear.

Just40:
first question I will ask you is, do you know that bond coupons are base on market condition?

Is that what you read? The bond issuer has to option to exchange exiting bonds with new ones in the interest of the creditor which means a negotiation of some form had already taken place according to the laws governing bonds.
Basically using the market rate to say that coupon payment for 2023 is zero and 5% at 2024.
And per the new agreement there are new maturity dates.

Since you have no education on bonds Market .... Take a read
Don't worry, Ghana will not join Kenya in debt default.

Last time Ghana did that was in 1972 or 82.


The domestic market is already being prime for new debt issuance based on prevailing market conditions.
So the meth you're on on no one issuing money to Ghana is just in your head.

Also on the external front... Ghana will be back in the market very soon

rvp2018:
Mad cow.
Ghana has unilaterally extended the maturity of all the bonds to 2026 - earliest - to the future.
That already is a default.
You are not able to pay maturing bonds (principal) until 2026 earliest.
Coupon is just fixed interest. Ghana is promising to pay zero, 5, etc interest or coupon.
That won't help anybody when inflation has gone through the roof.

Just40:
Because Ghana has the right to do that according to the legal terms of bonds which is called a buy back or and exchange bond..
That is not a default as much as you want it to be, it is not... A default is what happened in Kenya when it failed to pay back it obligation.

That's would help Ghana as it is the debtor.

Look out for more default news from Kenya as both your wage bill and interest payment is not going to go down even in the next 8 years and it will only get worse by the severe austerity that is causing your govt to cut down expenditure by 40%... In an economy like Kenya that is largely dependent on govt spending... That means disaster

Shma2022:
Bozo, why are you slow. You cant read?

The Grand Slam in tennis is the achievement of winning all four major championships in one discipline

Shma2022:
It is... But for small players.

gallivant:
I need an answer Boer? Don't be a kitten..

rvp2018:
Mad cow.
Ghana has unilaterally extended the maturity of all the bonds to 2026 - earliest - to the future.
That already is a default.
You are not able to pay maturing bonds (principal) until 2026 earliest.
Coupon is just fixed interest. Ghana is promising to pay zero, 5, etc interest or coupon.
That won't help anybody when inflation has gone through the roof.

Shma2022:
He has won nothing.

Shma2022:
He has won nothing.

popizaino:
Save words and post from the horses mouth themselves. It's obvious you are dealing with a robot who has been programmed not to agree with you.

Shma2022:
I thought it was a thing to do with Runners up. My bad.

But why are you focusing on history? That is the point. We are in 2022. You have no one to show but history. ---- some of the players you're presenting died.

Just40:
At this point you don't know that Ato Forson is only being political er.

All because you're not capable of having the brain capacity to read and understand what is going on.
Robot you say... Must be your dumb self


The horses own moth comes from the likes of IMani and co who sits on the table of budgetary preparations

popizaino:
Shut up.

popizaino:
Save words and post from the horses mouth themselves. It's obvious you are dealing with a robot who has been programmed not to agree with you.

jl115:
why do you desperately want white approval?

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

jl115:
We have won 19 grand slam tournaments you have won 0