₦airaland Forum

kkins25:
I'm trying to understand your statement, the drop of the dollar isn't a good thing?

it's a good thing but if it drops too much and too fast, it creates other problems.

Hope Eden Farm, Abuja

More

Lest we forget.

CNN hero of the year: A Kenyan --- cerebral capacity has to be involved. Tech has to be involved. Kenya is breeding top-notch intelligence in the world.


https://www.youtube.com/watch?v=6Lkv998u5lM

Lol mad cow; drop to 3;
We can only speak after seasonal dollars flowing from Ghanians visiting home for xmas is over.
Then external debt restructure and then IMF deal.
Dont get carried away by dead cat bounce.
In fact, next few weeks international trade takes some break until January

Globally there is weakening of dollar as people speculate what Fed will do....so many currencies recovering with Ghana leading.

We dont know yet how the Fed will act..today they US will release their CPI and tomorrow the fed meeting will decide on US interest rate...this will determine where the dollars will flow - back to US or overseas.

Just30:
the rate at which it is dropping, without intervention from the BOG to stop it appreciation, we might end up having a problem because with this momentum, it can get to 3 before the year ends.

How did it drop from 12.39 to 10, over night.

rvp2018:
Lol mad cow; drop to 3;
We can only speak after seasonal dollars flowing from Ghanians visiting home for xmas is over.
Then external debt restructure and then IMF deal.
Dont get carried away by dead cat bounce.
In fact, next few weeks international trade takes some break until January

Globally there is weakening of dollar as people speculate what Fed will do....so many currencies recovering with Ghana leading.

We dont know yet how the Fed will act..today they US will release their CPI and tomorrow the fed meeting will decide on US interest rate...this will determine where the dollars will flow - back to US or overseas.

bunch of nonsense from a lunatic

Cedi is appreciating because of a huge trade surplus, a further decline in import pressures as the finance ministry and BOG just removed a huge trade pressure off the dollar and then there's a reserves diversification and increase.
And then the derivative market has realized the debt hullabaloo was just hot air, after looking at the economic data which are all in the positive.

I don't like to talk much in a game of tic for tac political diplomacy. It's far beyond your understanding, especially when you can't understand simple economics



Why is the Kshs not appreciating ?

Meanwhile Ruto set ambitious target

President William Ruto has set an ambitious target to increase Kenya's forest cover to 28% from the current 8.8 % by 2030. Every chief shall dedicate at least one day per week for a public baraza and tree planting drive to plant at least 3,000 trees weekly.

Time as always is the arbiter.
Kshs has depreciated 9% - globally all currencies are down 8% on average
So Kshs is doing great - and will clawback if need be.
Though I think Kenya would like to keep the Kshs at 110-120...for some time....so we can become regionally competitive.
IMF complaint was that KSH was too strong at 100 to dollar...now at 120...everyone is happy - except for importers.
Opportunity for them to look inward
Debt wise - we only paid 5.5B kshs...about 50m extra from forex losses...so it's not a big deal.

It would be a massacre if we were Ghana - and Kshs would now 220 to dollar....from a high of 330kshs.

That is how crazy Ghana is. Kshs just moved from 115-120 in a year.

Just30:
bunch of nonsense from a lunatic

Cedi is appreciating because of a huge trade surplus, a further decline in import pressures as the finance ministry and BOG just removed a huge trade pressure off the dollar and then there's a reserves diversification and increase.
And then the derivative market has realized the debt hullabaloo was just hot air, after looking at the economic data which are all in the positive.

I don't like to talk much in a game of tic for tac political diplomacy. It's far beyond your understanding, especially when you can't understand simple economics



Why is the Kshs not appreciating ?

rvp2018:
Time as always is the arbiter.
Kshs has depreciated 9% - globally all currencies are down 8% on average
So Kshs is doing great - and will clawback if need be.
Though I think Kenya would like to keep the Kshs at 110-120...for some time....so we can become regionally competitive.
IMF complaint was that KSH was too strong at 100 to dollar...now at 120...everyone is happy - except for importers.
Opportunity for them to look inward
Debt wise - we only paid 5.5B kshs...about 50m extra from forex losses...so it's not a big deal.

It would be a massacre if we were Ghana - and Kshs would now 220 to dollar....from a high of 330kshs.

That is how crazy Ghana is. Kshs just moved from 115-120 in a year.

Tell that to your fellow Kenyans.

You're govt has no fiscal space with a managed exchanged rate and that is why when you experienced a 150% inflation last 2 years a last year, you had no option but to start defaulting and ran to the IMF even after WB debt freeze.
That's how mad Kenya is, using the limited forex you have to keep a managed currency while the entire market suffer badly from the effect.

Ghana just had to allow the Cedi take the shock over a 3 months period in order to protect the market and now everything is recovering at a faster pace. We are looking at a 30% recovery
You'll wake up tomorrow or close of week and the cedis had recovered all 54% of it loses depending on where the central bank feels it comfortable for Ghanaian producers.

Go enjoy your day

I googled search "Central bank of Kenya sells dollars to support shilling"
The last time they did this was 2020.
The last two years CBK has not intervened on the forex market.
And Kshs is doing great.

Meanwhile Ghana gov has tried severally to intervene - has basically emptied usable forex reserves - and were last seen around Galamseys trying to grab small scale gold. They were hoping to buy oil with gold

The small-scale gold diggers got wind of it - and have run to Burkina Faso.

And a sweaty Ghana gov official was finally seen on sunday announcing to the world - We are Broke We are Bankrupt until 2037 We cant pay

Just30:
Tell that to your fellow Kenyans.

You're govt has no fiscal space with a managed exchanged rate and that is why when you experienced a 150% inflation last 2 years a last year, you had no option but to start defaulting and ran to the IMF even after WB debt freeze.
That's how mad Kenya is, using the limited forex you have to keep a managed currency while the entire market suffer badly from the effect.

Ghana just had to allow the Cedi take the shock over a 3 months period in order to protect the market and now everything is recovering at a faster pace. We are looking at a 30% recovery
You'll wake up tomorrow or close of week and the cedis had recovered all 54% of it loses.

rvp2018:
I googled search "Central bank of Kenya sells dollars to support shilling"
The last time they did this was 2020.
The last two years CBK has not intervened on the forex market.
And Kshs is doing great.

Meanwhile Ghana gov has tried severally to intervene - has basically emptied usable forex reserves - and were last seen around Galamseys trying to grab small scale gold. They were hoping to buy oil with gold

The small-scale gold diggers got wind of it - and have run to Burkina Faso.

And a sweaty Ghana gov official was finally seen on sunday announcing to the world - We are Broke We are Bankrupt until 2037 We cant pay

cries of someone in a dire economic situation ranting nonsense because he has very little economic knowledge.

Why are you Kenyans always throwing tantrum when an intellectual discussion is being had and you guys are finally cornered after you hit the depth of your knowledge?

Hobbits, why don't you start your own thread where you can rant daily?

Shma2022:
Lest we forget.

CNN hero of the year: A Kenyan --- cerebral capacity has to be involved. Tech has to be involved. Kenya is breeding top-notch intelligence in the world.


https://www.youtube.com/watch?v=6Lkv998u5lM

Without a doubt..

https://pbs.twimg.com/media/Fj2tvVnXwAIa57T.jpg

Green City

https://pbs.twimg.com/media/FjiYrX-XkAUlZxa.jpg

We might have to push forward prediction of Nairobi beating joburg to 5yrs

https://www.youtube.com/watch?v=aQUh6deLT9E&t=1s

Ghana finally reached 3 billion dollar level agreement with IMF today.

vaxx:
Dollar hoarders upon seeing current
cedis exchange rate

Cedi now trading at 9 cedis to the dollar

The Gold to Oil and Gold reserves are really pushing the cedi upward at a speed.

At this rate, it will be trading at 3 cedis to the dollar before year end.

vaxx:
Ghana finally reached 3 billion dollar level agreement with IMF today.

it's only staff level , actual approval and parliamentary discussion approval can only happen by 3rd quarter of next year.

Just30:
it's only staff level , actual approval and parliamentary discussion approval can only happen by 3rd quarter of next year.

Agreement usually does not mean disbursement. At least at this level , we hope the situation now will improve investor confidence and improve the foreign exchange. Most importantly.

Great. This was long overdue if you didnt have a fool for a president.

vaxx:
Ghana finally reached 3 billion dollar level agreement with IMF today.

Mad cow will not understand. He need a year more to understand why IMF is crucial. He still believe the problem will go away like a bad dreams.

In his brain - he will wake up one day to find 3 cedis is a dollar

vaxx:
Agreement usually does not mean disbursement. At least at this level , we hope the situation now will improve investor confidence and improve the foreign exchange. Most importantly.

vaxx:
Agreement usually does not mean disbursement. At least at this level , we hope the situation now will improve investor confidence and improve the foreign exchange. Most importantly.

Exactly so...
Those two I mentioned usually takes longer and it will especially take much more longer in our case because NDC will make sure that should they approve this agreement, it wouldn't constrain their governance come 2024.
There's more hurdles to this agreement not being approved

rvp2018:
Mad cow will not understand. He need a year more to understand why IMF is crucial. He still believe the problem will go away like a bad dreams.

In his brain - he will wake up one day to find 3 cedis is a dollar

I've never seen a man cry this much over the economic prosperity of another country

If the rate stays here, Ghanaian GDP is 100 Billion dollars

But it won't stay here because I learnt the Central bank is targeting a rate at 6 or 7 cedis.

This means they are looking at a GDP of 143 billion dollars for next year.

The madness. I want Ghana to prosper. In real. Not in make-believe. You know I supported Ghana until Kazi Kazi opened our eyes. Develop your country and we shall support you.

But now you're bankrupt. The only support I have got for you is REALITY CHECK. For example I told you months or years ago to RUN TO IMF before it was too late. You waited for too long. But finally you're back to IMF because once you fail to manage yourself - IMF doors are always opened to manage your affairs.

Kenya is about to exit the treatment regime and have cooperated...they went early...and are about out to exit now.

And now you should concentrate on getting out of the bankruptcy.

We are going to watch Ivory coast who have recovered from a civil war and are doing great.

Just30:
I've never seen a man cry this much over the economic prosperity of another country

If the rate stays here, Ghanaian GDP is 100 Billion dollars

But it won't stay here because I learnt the Central bank is targeting a rate at 6 or 7 cedis.

This means they are looking at a GDP of 143 billion dollars for next year.

rvp2018:
The madness. I want Ghana to prosper. In real. Not in make-believe. You know I supported Ghana until Kazi Kazi opened our eyes. Develop your country and we shall support you.

But now you're bankrupt. The only support I have got for you is REALITY CHECK.

And now you should concentrate on getting out of the bankruptcy.

We are going to watch Ivory coast who have recovered from a civil war and are doing great.

Funny lunatic rant

My country is more developed than yours .. I will take a develope your country advice from SA because they're more developed than us but not a country far below us.

A country that can fully pay it debt and is doing so can't be described as bankrupt. Kenya can't and that is why we all say Kenya is bankrupt.

The Ghanaian economy has almost fully recovered.
As everyone knows, Ghana has never really needed the IMF and this is also so. The money is not needed and so is their ambit not needed as senior economist have advice them to stop looking for political cover.

Cry more

You see you're mental deranged because you think Ghana has already recovered when bond holders are being told to wait earliest until 2027...and last person to be paid is 2037.

You suffer from delusion. Get treated.

Just30:
Funny lunatic rant

My country is more developed than yours .. I will take a develope your country advice from SA because they're more developed than us but not a country far below us.

A country that can fully pay it debt and is doing so can't be described as bankrupt. Kenya can't and that is why we all say Kenya is bankrupt.

The Ghanaian economy has almost fully recovered

Cry more

rvp2018:
You see you're mental deranged because you think Ghana has already recovered when bond holders are being told to wait earliest until 2027...and last person to be paid is 2037.

You suffer from delusion. Get treated.

Everyone knows the the country has almost fully recovered.

most of the bonds renewed were only going to mature in those same years of 2027,30 onwards.
Renewing them protests bond holders from principal loses as they were trading in the negative.


You're suffering from Kenya economic pain ... Moral relativism and a terrible sense of economics make you make stupid comments just to prolong arguments base on facts

Keep crying, you'll wake up tomorrow morning and the Cedi will be at 7 or be at 7 by the afternoon.

Forex gurus are already predicting the Cedi at 5 to a dollar because of the data they are looking at

BEST OF LUCK First I'd like to see what IMF has forced you to agree to. Delusion has to be one of thing you give up.

Just30:
Everyone knows the the country has almost fully recovered.

most of the bonds renewed were only going to mature in those same years of 2027,30 onwards.
Renewing them protests bond holders from principal loses as they were trading in the negative.


You're suffering from Kenya economic pain ... Moral relativism and a terrible sense of economics make you make stupid comments just to prolong arguments base on facts

Keep crying, you'll wake up tomorrow morning and the Cedi will be at 7 or be at 7 by the afternoon.

Forex gurus are already predicting the Cedi at 5 to a dollar because of the data they are looking at

rvp2018:
BEST OF LUCK First I'd like to see what IMF has forced you to agree to. Delusion has to be one of thing you give up.

IMF hasn't forced us to do anything.

The IMF recommended an increase in resources available to the govt... The govt increase it revenue target by 44% and with the help of the Cedi Appreciation, they're looking at 25 to 26 billion dollars. They're doing this without even increasing taxes except for VAT.


Man.. I hope Kenya recover from the deep mess it is in