₦airaland Forum

You took an hour to recover. Drink some milk. This is going to be two decades.

Ghana announced that it will default - starting today

The default start now - when next interest or principal payment is due - and they indeed honour their word not to pay - they would have defaulted.

https://www.reuters.com/article/idUSKBN2T30IG

The IMF has said a comprehensive debt restructuring is a condition of the deal.

Just30:
not a default lunatic

This is a follow up to the new bonds that have been agreed upon which signified zero coupons for the year 2023..

The new agreement for the external debt will be published soon.


Your lack of reading comprehension will always hurt your attempt to make an understanding of things like finance and economics

rvp2018:
What do they teach you in Ghana school;
Not English? Not logic? Not Economics.
Why are exactly are spending money to finance an education system that output idiots like you.

It's a system that produces international parasites.

Turns out the DEADCAT BOUNCE WAS PROUDLY SPONSORED BY GHANA GOV. These Ghanains dont think at all. They took the few remaining forexes - and tried to game the USD market - went bankrupt completely. Whoever got the cheap dollars; hold on them;

https://twitter.com/BBSimons/status/1604781546749104128
Okay, I was wrong. I told folks at various times that the govt of Ghana will not suspend payments on external debt until it formally engages creditors on a plan next year. I did not anticipate that it will burn thru its reserves to reinforce a run on the dollar.

rvp2018:
You took an hour to recover. Drink some milk. This is going to be two decades.

Ghana announced that it will default - starting today

The default start now - when next interest or principal payment is due - and they indeed honour their word not to pay - they would have defaulted.

https://www.reuters.com/article/idUSKBN2T30IG

The IMF has said a comprehensive debt restructuring is a condition of the deal.

read again.... It seem you didn't understand

Not even close to a default ... We will not be joining Kenya in that league

This is a follow up to the new bonds that have been agreed upon which signified zero coupons for the year 2023..

The new agreement for the external debt will be published soon.


Your lack of reading comprehension will always hurt your attempt to make an understanding of things like finance and economics.

This publication is a CAC designed for hold out creditors to either trigger their lawsuit clause which will lead the govt to trigger it clause on freeze on litigation or the holdout creditors will be force into a deal, this is the govt drawing first blood

jl115:
it's not what you believe, it's what the facts tell us, and in terms of the indexes available to us it places SA above Egypt and Joburg above Cairo

Again Capetown also ranks higher than Cairo

We are not talking domestic default you had few days ago.

We are now on external debts- bonds - and even bilateral & multilateral loans that are not issued as bonds. Not just Eurobonds. Even Nigeria Gas wont be paid.

On domestic front - domestic investors have refused to return their bonds to exchange for new ones. That mean youre going to do the classic default - because they dont accept your terms.

And now we are hearing Ghana CBK took their last forex - flooded the Ghana market - to sustain a run on the dollar - and now they have nothing left in the coffers/

Therefore, we have a classic default.

Just30:
read again.... It seem you didn't understand

Not even close to a default ... We will not be joining Kenya in that league

This is a follow up to the new bonds that have been agreed upon which signified zero coupons for the year 2023..

The new agreement for the external debt will be published soon.


Your lack of reading comprehension will always hurt your attempt to make an understanding of things like finance and economics.

This publication is a CAC designed for hold out creditors to either trigger their lawsuit clause which will lead the govt to trigger it clause on freeze on litigation

rvp2018:
Ruto is the real deal. You'll soon his crazy hardwork paying. Him and the Zambian president are the new kids in the block. Ramaphosa has disappointed. Seem to tired to lead. The South Africa reform train has totally derailed. ANC gov is just there. More sleepy than Buhari

Ramaphosa hasn't had the backing of the ANC to implement the reforms necessary to get SA on track faster, however under his presidency he has been able to prosecute and jail a former president for defying the law, something which will not happen in Kenya, he has uncaptured and started rebuilding several institutions like the NPA, Denel, transnet, Eskom(approved IPPs) and privatised SAA, cracked down on corruption(to an extent), acquired billions of dollars of FDI.

AfriqueDuZuid:
Again Capetown also ranks higher than Cairo

true

I agree South Africa institutions are pretty admirable backed by a modern constitution. Even USA dont have such. Kenya has to build it institutions and we are probably half way there. We have had sitting president election annualed and that gave our judiciary real cojones. They have seen done many great things.

Definitely South Africa Judiciary is Africa best by a mile. Kenya is half way there - with 2010 constitution mostly borrowed from South Africa - what is ailing us is underfunding of the judiciary and a crazy backlog. Ruto has committed to work with judiciary to double the judges and magistrate - and build lot more courts.

I dont know enough of the rest - but I think ESKOM should be biggest concern - because it has systemic risk to the economy and general wellbeing. That should occupy Ramaphose and ANC every day.

jl115:
Ramaphosa hasn't had the backing of the ANC to implement the reforms necessary to get SA on track faster, however under his presidency he has been able to prosecute and jail a former president for defying the law, something which will not happen in Kenya, he has uncaptured and started rebuilding several institutions like the NPA, Denel, transnet, Eskom(approved IPPs) and privatised SAA, cracked down on corruption(to an extent), acquired billions of dollars of FDI.

rvp2018:
We are not talking domestic default you had few days ago.

We are now on external debts- bonds - and even bilateral & multilateral loans that are not issued as bonds. Not just Eurobonds. Even Nigeria Gas wont be paid.

On domestic front - domestic investors have refused to return their bonds to exchange for new ones.

And now we are hearing Ghana CBK took their last forex - flooded the Ghana market - to sustain a run on the dollar - and now they have nothing left in the coffers/

Therefore, we have a classic default.

again you fail to understand...

Govt reached out to it external creditors long ago and reached and agreement with most of them which we've all come to know as 30% haircut for external creditors.... The new terms for their bond swap will be announced soon.

Nigerian gas is not a bond buyer

If Ghana central bank burned it forex, the Cedi will not be appreciating this much ... Infact Ghana central forex has surged to almost 10 billion since it dropped to 7 billion in July.

Next excuse for Kenya desperate need to look for company in it default

You have no idea what negotiation strategies are

Read this again slowly - it for all external debts - including bilateral debt - when UK loan you - they dont issue Eurobond - they wire the money directly - and you pay.

And there is no hint of any negotiation.

Again dont argue with stubborn facts. You will LOSE again and again and again.

Domestic front - deadline has been pushed - no takers

We are looking at classic default by early January.

Now that you have empitied your forex to do kamikaze run on the USD - and all that positive sentiment - has today been eroded.

Just30:
again you fail to understand...

Govt reached out to it external creditors long ago and reached and agreement with most of them which we've all come to know as 30% haircut for external creditors.... The new terms for their bond swap will be announced soon.

Nigerian gas is not a bond buyer

If Ghana central bank burned it forex, the Cedi will not be appreciating this much ... Infact Ghana central forex has surged to almost 10 billion since it dropped to 7 billion in July.

Next excuse for Kenya desperate need to look for company in it default

You have no idea what negotiation strategies are

rvp2018:
Read this again slowly - it for all external debts - including bilateral debt - when UK loan you - they dont issue Eurobond - they wire the money directly - and you pay.

And there is no hint of any negotiation.

Again dont argue with stubborn facts. You will LOSE again and again and again.

Domestic front - deadline has been pushed - no takers

We are looking at classic default by early January.

Now that you have empitied your forex to do kamikaze run on the USD - and all that positive sentiment - has today been eroded.

Well to your surprise.. They negotiated with their external holders long ago ending October and reached a 30% haircut for them with new swap agreement to be publish.



This publication is for current holdout creditors still thinking of being holdout creditors by the new date of 30 December.
It simply gives them 2 options to either trigger their legal clauses for govt to trigger it legal freeze clause so that the govt can move on with it CAC with the majority in agreement while the holdouts go through a lengthy court process or run for further negotiation.

If comprehension is too hard for you... You can read from the attached comment, it makes it simpler

rvp2018:
I agree South Africa institutions are pretty admirable backed by a modern constitution. Even USA dont have such. Kenya has to build it institutions and we are probably half way there. We have had sitting president election annualed and that gave our judiciary real cojones. They have seen done many great things.

Definitely South Africa Judiciary is Africa best by a mile. Kenya is half way there - with 2010 constitution mostly borrowed from South Africa - what is ailing us is underfunding of the judiciary and a crazy backlog. Ruto has committed to work with judiciary to double the judges and magistrate - and build lot more courts.

I dont know enough of the rest - but I think ESKOM should be biggest concern - because it has systemic risk to the economy and general wellbeing. That should occupy Ramaphose and ANC every day.

I concur

And yes Eskom is the single biggest risk to the South African economy.

jl115:
in terms of GDP nominal yes however Kenya is slightly ahead in terms of GDP ppp which is the more accurate means to measure economic efficiency

Nigeria $5400

Kenya $5030

GDP per capita PPP 2021/2022

Seriously you should get mental help.

Just30:
Well to your surprise.. They negotiated with their external holders long ago ending October and reached a 30% haircut for them with new swap agreement to be publish.



This publication is for current holdout creditors still thinking of being holdout creditors by the new date of 30 December.
It simply gives them 2 options to either trigger their legal clauses for govt to trigger it legal freeze clause so that the govt can move on with it CAC with the majority in agreement while the holdouts go through a lengthy court process or run for further negotiation.

If comprehension is too hard for you... You can read from the attached comment, it makes it simpler

rvp2018:
Ruto is the real deal. You'll soon his crazy hardwork paying. Him and the Zambian president are the new kids in the block. Ramaphosa has disappointed. Seem to tired to lead. The South Africa reform train has totally derailed. ANC gov is just there. More sleepy than Buhari

Government shortcomings are suplimented by private sector which happens to be the strongest

rvp2018:
Seriously you should get mental help.

you need it more ...
Check yourself in or seek an education

You always want to argue things you don't understand

rvp2018:
You should have sold Ghana Airway long before it went under.
KQ will remain Kenyan - and will use JKIA as it main hub - with Delta onboard.

Having a national airline is nice but there's no sense in running a profitless National airline
That's pure nonsense

Obaaderemi2:
Nigeria $5400

Kenya $5030

GDP per capita PPP 2021/2022

The most up to date figures

First pic GDP nominal per capita
Second GDP ppp per capita

It not nice - it great - because JKIA IS hub - just like Ethiopia's Adis and Jobur - and it make interconnection easy.
We just mismanaged ours due to corruption.
And now we have to sell it.

We have kept it this long because it strategic asset. You just need to see JKIA passengers number approaching 10 million - while Accra will struggle to get a million passengers annually.

vankelvin:
Having a national airline is nice but there's no sense in running a profitless National airline
That's pure nonsense

Major reforms require political will - change in laws and etc. Land reforms, Immigration, Crime, Eskom and Union require a president ready to bite the bullet and a party that understand.

Right now only Malema is shouting reforms using crude ways and means because ANC have failed to continue with land reforms to ensure more South Africans struggling in urban centers are gien land to farm their own food in small farms for example. Land redistribution should be top priority even if the Boer disagree.

Immigration - has to be crackdown - to reduce the number of illegals so people dont have to take law on their hand and do it themselves. Police should be one making life hell for any illegal immigrant. Why not start asking for ID randomly and build a prison for all illegals.

Eskom has to be broken down into distribution, regulator, generation, supply. Right now Eskom can collapse south Africa. It has just too much power. They should never control generation, distribution, supply. Those should be decoupled. It should take few months to split Eskom into 10 companies...and reduce the systemic risk of a meltdown.

But you have delayed - and now power rationing starting to look normal like Nigeria have normalized theirs.

Crime - whatever you need to fix this - fix it. If it mean more police add. Crime and rape should never be that prevalent. You're already homicide capital of the WORLD - that takes a lot of effort. I feel fixing immigration and land reforms will reduce crime - because poor South Africans resort to crime as both a political protest and also lack of opportunity

AfriqueDuZuid:
Government shortcomings are suplimented by private sector which happens to be the strongest

rvp2018:
I see you twisted after realizing you tied yourself in a knot. I didnt say focused. I said INCLUDES "useless" political-cultural-social indicators that distort it from purely urban development. Those soft issues you cannot see from your naked eyes when you watch Asian city video and South Africa. You can clearly see from your own naked eye that one is miles away. But of course they dont have political rights, gays have no right, and they are not a democracy.

Again if we were to race - and I start 30% ahead of you - how will you catch up.

Did you go to school or you're just a hunter? If you went to school 30% is HUGE - even 10% is huge.

Your wasting your time. Just tell him if he will accept that Accra is more developed than Johannesburg since naked eye doesn't do it and must all go by QOL and Mercer indicators. You know Accra doesn't suffer from much load shedding like Johannesburg,neither does it have Johannesburg crime rates.

jl115:
The most up to date figures
First pic GDP nominal per capita Second GDP ppp per capita

GDP per capital nominal is more common, boda.

rvp2018:
It not nice - it great - because JKIA IS hub - just like Ethiopia's Adis and Jobur - and it make interconnection easy.
We just mismanaged ours due to corruption.
And now we have to sell it.

We have kept it this long because it strategic asset. You just need to see JKIA passengers number approaching 10 million - while Accra will struggle to get a million passengers annually.

Oh! so that's what it is all about?
Seeing millions of foreign human beings in JKIA then what next? you use your taxes to pay off all the debts incurred by your airline ?
Can't private people(Kenyans) be made to run that airline instead of your Government?

popizaino:
Your wasting your time. Just tell him if he will accept that Accra is more developed than Johannesburg since naked eye doesn't do it and must all go by QOL and Mercer indicators. You know Accra doesn't suffer from much load shedding like Johannesburg,neither does it have Johannesburg crime rates.

that's why jo'burg ranks higher than Accra, telling you that Accra is not more developed than jo'burg... So again what's your point?

Useless argument over nothing

Understand the genesis
1963-1978 - we had one airline with Ug and TZ called East Africa Airline. Tanzania became consumed by jealous and we killed EAC - every pilot took off with their plane - and each country went to start their own.
1978-1995 - we had gov owned Kenya Airways - and again it became difficult to maintain
1995 - we executed africa most successfully privitasation of the airline - KQ was owned 40% by KLM; 25% through IPO; and 35% by kenya gov.
1995 - 2012 - KQ was profitable and one best airlines in Africa.
2012 - 2022 - last decade - it hit serious turbulence - gov has lend it money to survive - the money has been converted into equity
Now gov has been forced to own KQ again - with Kenya Banks - as 2nd biggest shareholders.
2023 - hopefully we sell 49% to Delta; the rest to Kenyans ; kenya gov can own maybe nothing.

Why did kenya gov inject money - the last 10yrs to save KQ - because it strategic and because we can fix it - and maybe recover the money we invested once we sell to Delta.

So hopefully Delta will pay off gov investment the last 10yrs - and KQ goes back to being private airline it was.

Nobody would have lost nothing.

vankelvin:
[/b]
Oh! so that's what it is all about?
Seeing millions of foreign human beings in JKIA then what next? you use your taxes to pay off all the debts incurred by your airline ?
Can't private people(Kenyans) be made to run that airline instead of your Government?

vankelvin:
[/b]
Oh! so that's what it is all about?
Seeing millions of foreign human beings in JKIA then what next? you use your taxes to pay off all the debts incurred by your airline ?
Can't private people(Kenyans) be made to run that airline instead of your Government?

new arrangement for Ghana Airline... Asante Airline will own 49% share, Ghana govt will have 10% and the remaining will be floated to Ghanaians.

Ghana has 68 air service agreements with various countries.

Something like this won't be bad for Kenya plus a little piece of the agreement stating that the Kenyan government will not be liable for any debt or loses incurred

rvp2018:
Understand the genesis
1963-1978 - we had one airline with Ug and TZ called East Africa Airline. Tanzania became consumed by jealous and we killed EAC - every pilot took off with their plane - and each country went to start their own.
1978-1995 - we had gov owned Kenya Airways - and again it became difficult to maintain
1995 - we executed africa most successfully privitasation of the airline - KQ was owned 40% by KLM; 25% through IPO; and 35% by kenya gov.
1995 - 2012 - KQ was profitable and one best airlines in Africa.
2012 - 2022 - last decade - it hit serious turbulence - gov has lend it money to survive - the money has been converted into equity
Now gov has been forced to own KQ again - with Kenya Banks - as 2nd biggest shareholders.
2023 - hopefully we sell 49% to Delta; the rest to Kenyans ; kenya gov can own maybe nothing.

Why did kenya gov inject money - the last 10yrs to save KQ - because it strategic and because we can fix it - and maybe recover the money we invested once we sell to Delta.

So hopefully Delta will pay off gov investment the last 10yrs - and KQ goes back to being private airline it was.

delta is not in the business of owing lose making businesses with no potential.

Delta is a big guy looking to own shares in huge competitors like Chinese airlines and Turkish airlines

You cant teach us about airlines or anything now that you're bankrupt.
We can only listen to Ethiopia

Ethiopia fired their legendary CEO - who now works for Delta.

That is the guy we want in Kenya Airways...Tewolde Gebremariam

Ghana you have a long way to go. And when you're broke the last thing you want to get into is airline. IMF are NOT going to accept such ventures.

Pay debt first - otherwise that airplane will be SEIZED on the air - by gazillion of creditors -- they would rather jack it .

Even those agreement - and even your embassies - some of them could be sold by your creditors.

You cant run airline when you cant manage debt.

Tanzania one is getting their planes seized all over.

Just30:
new arrangement for Ghana Airline... Asante Airline will own 49% share, Ghana govt will have 10% and the remaining will be floated to Ghanaians.

Ghana has 68 air service agreements with various countries.

Something like this won't be bad for Kenya plus a little piece of the agreement stating that the Kenyan government will not be liable for any debt or loses incurred

Obaaderemi2:
GDP per capital nominal is more common, boda.

according to who?..... GDP ppp is a better comparison since it takes cost of living into account

rvp2018:
You cant teach us about airlines or anything now that you're bankrupt.
We can only listen to Ethiopia

Ethiopia fired their legendary CEO - who now works for Delta.

That is the guy we want in Kenya Airways.

Yes we can because we started this business on the continent ferrying all of Africa together with other west And northern African countries airlines before Kenya was even birthed

Focus on Kenya debt payment, those defaults is what is dragging your country and it currency down

rvp2018:
Understand the genesis
1963-1978 - we had one airline with Ug and TZ called East Africa Airline. Tanzania became consumed by jealous and we killed EAC - every pilot took off with their plane - and each country went to start their own.
1978-1995 - we had gov owned Kenya Airways - and again it became difficult to maintain
1995 - we executed africa most successfully privitasation of the airline - KQ was owned 40% by KLM; 25% through IPO; and 35% by kenya gov.
1995 - 2012 - KQ was profitable and one best airlines in Africa.
2012 - 2022 - last decade - it hit serious turbulence - gov has lend it money to survive - the money has been converted into equity
Now gov has been forced to own KQ again - with Kenya Banks - as 2nd biggest shareholders.
2023 - hopefully we sell 49% to Delta; the rest to Kenyans ; kenya gov can own maybe nothing.

Why did kenya gov inject money - the last 10yrs to save KQ - because it strategic and because we can fix it - and maybe recover the money we invested once we sell to Delta.

So hopefully Delta will pay off gov investment the last 10yrs - and KQ goes back to being private airline it was.

Nobody would have lost nothing.

The emboldened is the way to go
but K-nyansh Government should own at least 10% share , Kenyans should also own about 41% then Delta can take the remaining 49%