₦airaland Forum

Just40:
Yes ... A debtor has that option.
Debt swap, buy back, exchange is all allowed.

And that is why Bloomberg is not calling it a default.. anyone with financial knowledge already knows that. .

A country does not default when it is spending 30% on wages and salaries and another 35% or 40% of revenue on debt servicing.

A country is in real shit when 100% of it revenue goes to debt servicing and wages alone like we've seen with Kenya and that is why they defaulted

Madman, wait for the impeding economic implosion without making too much noise. We are not interested in your wailing cries.

jl115:
who won the 81 and 82 Australian open mens singles?

History...

AfriqueDuZuid:
. Ranked number 5 for men

3 for women is not an easy feat, it's consistency

Congrats to that boer.

AfriqueDuZuid:
Medals concentrated in marathons its not diverse you may find 90of those are marathons just like ethiopia

What is wrong with marathon? Marathon is even superior to sprints.

Kenya defaults

2 more cases are loading..
With KQ default on 550 million debt, the Kenyan government as a guarantor is also expected to default on that as well as there's no room for additional.
Same situation is happening with SGR facility

None of those dams were built.
Italian contractor CMC di Ravenna declared bankruptcy long time ago
Kenya cancelled the contracts due to corruption.
Kenya cannot pay for what was not built.

Just40:


Kenya defaults

2 more cases are loading..
With KQ default on 550 million debt, the Kenyan government as a guarantor is also expected to default on that as well as there's no room for additional.
Same situation is happening with SGR facility

Just40:


Kenya defaults

2 more cases are loading..
With KQ default on 550 million debt, the Kenyan government as a guarantor is also expected to default on that as well as there's no room for additional.
Same situation is happening with SGR facility

KQ is not Kenya madman. Stop clutching at straws.

jl115:
it actual 15 to 20.......not double, but I will concede Kenya averages more medals per games than SA

Nice. ..

Shma2022:
Congrats to that boer.

rvp2018:
None of those dams were built.
Italian contractor CMC di Ravenna declared bankruptcy long time ago
Kenya cancelled the contracts due to corruption.

But the monies were taken from foreign banks and spent by your government with no plans of how to repay

Do you want to dispute your auditor general report?

Dumb as usual

Auditor General job is to report what Treasury did.
Treasury simply refused to pay - that is default - but not for lack of money - but because of legal issues.
This will go through Arbitration btw Kenya and Italy Gov.
There are such debt that Ghana refuses to pay.
You refused to pay one IPP in your power sector - claiming corruption - no one said Ghana has defaulted.
US of course banned you from Power Africa

Just40:
But the monies were taken from foreign banks and spent by your government with no plans of how to repay

Do you want to dispute your auditor general?

Just40:
But the monies were taken from foreign banks and spent by your government with no plans of how to repay

Do you want to dispute your auditor general report?

Dumb as usual

Enjoy the default and save us your sermons..

https://pbs.twimg.com/media/FZGIK-xWQAIZEhV.jpg

Just40:
Yes ... A debtor has that option.
Debt swap, buy back, exchange is all allowed.

And that is why Bloomberg is not calling it a default.. anyone with financial knowledge already knows that. .

A country does not default when it is spending 30% on wages and salaries and another 35% or 40% of revenue on debt servicing.

A country is in real shit when 100% of it revenue goes to debt servicing and wages alone like we've seen with Kenya and that is why they defaulted

I know you live in an alternate Ghana different so pls spare me your BS. I am not interested.

Just40:
But the monies were taken from foreign banks and spent by your government with no plans of how to repay

Do you want to dispute your auditor general report?

Dumb as usual

You were warned long time ago...

https://pbs.twimg.com/media/FYNDRBDXoAAM67A.png

Here - 2020 - they had all the early warning signs - kenya headed them and run to the IMF - Ghana refused and went back to Eurobond - gorged themselves - now they are bankrupt.

gallivant:
Enjoy the default and save us your sermons..

https://pbs.twimg.com/media/FZGIK-xWQAIZEhV.jpg

Unfortunately Ghana gov has the same brain or lack of one as Just Mad man.
They were warned.
They never listen. In fact, they doubled down on Eurobonds right during COVID.
Now they are in a very bad place.

Kenya paid attention and started making serious amend.
Now kenya is going to vroooom
Ghana is going to a bad place for min of 10yrs.

That Nana fool has really committed heinous crime on his people.

He has destroyed Ghana economy and it's people financial health. It going to be very bad.

popizaino:
I know you live in an alternate Ghana different so pls spare me your BS. I am not interested.

rvp2018:
Unfortunately Ghana gov has the same brain or lack of one as Just Mad man.
They were warned.
They never listen.
Now they are in a very bad place.

Kenya paid attention and started making serious ammend.
Now kenya is going to vroooom
Ghana is going to a bad place for min of 10yrs.

That Nana fool has really committed henious crime on his people.

Yes,the present Ghana Gov have the brain of the mad cow in the house. The former president warned them severely when there were early signs but the typical idiots like the one on this thread turned everything to politics.

Kenya even tried to talk to Nana to call for debt relief and IMF support when 1st signal of danger was sounded in 2020;
He said hell no - we dont want anything that can mess our credit rating - we want to borrow more Eurobond.
We want to borrow more and more eurobond - we want to even float century bond.

Kenya policy wonks must have left with their mouth wide open.

They are most lavish of govs in Africa - together with Zambia - bereft of any prudency.

popizaino:
Yes,the present Ghana Gov have the brain of the mad cow in the house. The former president warned them severely when there were early signs but the typical idiots like the one on this thread turned everything to politics.

rvp2018:
Auditor General job is to report what Treasury did.
Treasury simply refused to pay - that is default - but not for lack of money - but because of legal issues.
This will go through Arbitration btw Kenya and Italy Gov.
There are such debt that Ghana refuses to pay.
You refused to pay one IPP in your power sector - claiming corruption - no one said Ghana has defaulted.
US of course banned you from Power Africa

So you have now moved from it didn't exist to now your treasury refusing to pay an international debt and finally accepting it defaulted..

Well done you e made progress

Now let me tell you why it defaulted and why it will default on KQ loan just like the SGR loan.

The Kenya treasury is spending 120% of revenue on debt servicing and wages and salaries.
This means that in order for the Kenyan treasury to forfill those 2 obligation, it had to either sacrifice part payment of wages and salary (this option will destabilize the country and create a political uprising) so it choosed the safest option which was to default on those obligations. Meaning you country had no money


Ghana never obligated on any of it IPP payments... We paid it all and successful renegotiated those obligation overhang to zero.

Ghana had no obligation to PDS, infact PDS has an obligation to Ghana for fraud and Ghana will be sueing them.
The US govt got pissed that we cancelled the contract with that company.

There's no equalism here

Kenya can default on any loan it wants; that is not soverign default;
We cannot pay for dams that were never built.
Italian gov and companies can go to court or negotiate.

KQ took loan of 750M to buy Beoing dreamliners - the outstanding balance is 80m dollars.

That is chicken manure for kenya gov.

Just40:
So you have now moved from it didn't exist to now your treasury refusing to pay an international debt and finally accepting it defaulted..

Well done you e made progress

Now let me tell you why it defaulted and why it will default on KQ loan just like the SGR loan.

The Kenya treasury is spending 120% of revenue on debt servicing and wages and salaries.
This means that in order for the Kenyan treasury to forfill those 2 obligation, it had to either sacrifice part payment of wages and salary (this option will destabilize the country and create a political uprising) so it choosed the safest option which was to default on those obligations. Meaning you country had no money


Ghana never obligated on any of it IPP payments... We paid it all and successful renegotiated those obligation overhang to zero.

Ghana had no obligation to PDS, infact PDS has an obligation to Ghana for fraud and Ghana will be sueing them.
The US govt got pissed that we cancelled the contract with that company.

There's no equalism here

popizaino:
I know you live in an alternate Ghana different so pls spare me your BS. I am not interested.

I guess you don't know Felix Kwakye is a cabinet member of the last govt .. Felix has an obligation to push that because it benefit his political interest.

Anyway why are you desperate looking for Ghana to default?

It terrible mad cow.

Just40:
I guess you don't know Felix Kwakye is a cabinet member of the last govt .. Felix has an obligation to push that because it benefit his political interest.

Anyway why are you desperate looking for Ghana to default?

rvp20182:
Kenya can default on any loan it wants; that is not soverign default;
We cannot pay for dams that were never built.
Italian gov and companies can go to court or negotiate.

KQ took loan of 750M to buy Beoing dreamliners - the outstanding balance is 80m dollars.

That is chicken manure for kenya gov.

Frustration

And that is why the Kenyan economy is in a bad shape with austerity bitting hard.

The problem is not the dam but the monies your govt took and misappropriated ... Now it has to be paid back and they defaulted.

Actually KQ was only able to pay 80 million and your govt managed to pay a little but the 550 remaining has become and albatross because they don't know how to get it, just like SGR loan repayments

Mad cow.

Just40:
Frustration

And that is why the Kenyan economy is in a bad shape with austerity bitting hard.

The problem is not the dam but the monies your govt took and misappropriated ... Now it has to be paid back and they defaulted.

Actually KQ was only able to pay 80 million and your govt managed to pay a little but the 550 remaining has become and albatross because they don't know how to get it, just like SGR loan repayments

rvp20182:
It terrible mad cow.

debt to GDP only shows Solvency it is debt to revenue that matters and this shows liquidity.

Ghana debt to revenue service is 35% (55 billion cedi for 2023)
Compensation of employees is (44 billion cedis)



We're in a better situation

rvp20182:
Mad cow.

lunatic... I like the way facts hurt your feelings

Just40:
Frustration

And that is why the Kenyan economy is in a bad shape with austerity bitting hard.

The problem is not the dam but the monies your govt took and misappropriated ... Now it has to be paid back and they defaulted.

Actually KQ was only able to pay 80 million and your govt managed to pay a little but the 550 remaining has become and albatross because they don't know how to get it, just like SGR loan repayments

Time for your meds madman.

Yet you cant pay domestic debt until 2027 - let alone external.
You're completely broke until 2033 earliest.
And the more you defend the indefensible the more we laugh

Just40:
debt to GDP only shows Solvency it is debt to revenue that matters and this shows liquidity.

Ghana debt to revenue service is 35% (55 billion cedi for 2023)
Wages and salary is (44 billion cedis)



We're in a better situation

rvp2018:
Credit ratings like Fitch., S& P, Moodys do that job for you.

Kenya credit rating has been stable - and macro-economics improving - inflation arrested - liquidity in domestic debt market back

And Nigeria - Inflation is soaring - everything else look less and less rosy

Nigeria's Credit Rating Cut Deeper Into Junk
Nov 11, 2022 — Nigeria was downgraded by Fitch Ratings as government debt service costs and external liquidity worsen, despite higher crude prices.

Your rating is equally poor. You have a B+ with negative outlook. You are neck deep in mud, boy.

Look closely. Your default rating is very worrisome.

rvp2018:
Kenya even tried to talk to Nana to call for debt relief and IMF support when 1st signal of danger was sounded in 2020;
He said hell no - we dont want anything that can mess our credit rating - we want to borrow more Eurobond.
We want to borrow more and more eurobond - we want to even float century bond.

Kenya policy wonks must have left with their mouth wide open.

They are most lavish of govs in Africa - together with Zambia - bereft of any prudency.

Financial prudence is not a thing for this present gov.see below. Everything you saw was predictable and warned by the former president and to my amazement this man wasn't using teleprompter when he was churning out raw statistics of the state of things and bad they were cooking stats off his head but idiots here thought dismissed his claims as mere political campaign. They should enjoy the moment while it last.

Leading versus Lagging indicator.
We had a debt crisis.
But we are coming out of it.

obaaderemi:
Your rating is equally poor. You have a B+ with negative outlook. You are neck deep in mud, boy.

obaaderemi:
You see why I stopped quoting his likes.

From his own screenshot, the South African highest rank was 5th while the kenyan's highest rank was 100th. Probably he thinks the bigger the number the higher the ranking. That's why we have told them severally to stick to running.

The shame of it is that his master R I P is reading and can see his blunders but will keep quiet as the small boy continues to shame Kenyan education, forgetting that all the other Kenyans look up to him for guidance. He would rather mislead them.

Glaucoma... Calm down your @sshole... You're a nonentity -- 'quoting me not' means nothing -- those are your fears.
1 + 1 = 2 ... Correct √
2 + 0 = 2.. Correct √
Some things are prime movers of reproach... You don't need rocket scientists to dismantle and anatomize the ickle-sized brains.
E.g,,
You're wearing a pink-yellow panty.. But samboro - your boyfriend for instance is seeing red-purple. That is beyond cognitive power. It's more of achromatic vision-- or rather color vision deficiency.

For the genius like us... We see things in different prospects.
Eg.
Using 10, drop a totting up for 100 as an upshot.
10×10√
10²√
10+10+10+10+10+10+10+10+10√

Undefined ambiguity lies upon you to discern and decipher the solution... You're not bound to be static in thinking.

Obtuse minds will always look for trivial things to earn a shot.