₦airaland Forum

rvp2018:
Here come the madman from Ghana

Kenya gov is struggling to pay debt at 60% servicing ratio.
Ghana stopped paying debt last year.
Nigeria debt servicing ratio is beyond 100%.

Ghana doesn't stop paying debt , she only renogotiate it . Now your country is broke , she can't even pay common salary . You are indeed broke . Argue with ruto not me .


Even those who try to pay are using money meant for other project or taking overdraft from bank. Meaning using loans to pay salary

slowpoke you dont restructure until you default.

You stopped. paying.

Then forced the bond holders to take haircut.

Get some basic education on public finance.

Kenya gov is struggling to pay because defaulting is TERRIBLE NEWS . We dont want to end up like Ghana.

vaxx:
Ghana doesn't stop paying debt , she only renogotiate it . Now your country is broke , she can't even pay common salary . You are indeed broke . Argue with ruto not me .


Even those who try to pay are using money meant for other project or taking overdraft from bank. Meaning using loans to pay salary

rvp2018:
slowpoke you dont restructure until you default.

You stopped. paying.

Then forced the bond holders to take haircut.

Get some basic education on public finance.

You should stop being an obtuse . The worse that could ever happens to a country is her inability not to be able pay her workers salaries . That is more terrible in any given time .

Renegotiating of debt is common in many advance nation , what is not common is inability not to pay salaries which is the mess kenya find herself .

You are broke , common salary is now very difficult for you to remit . That is what is called financial abyass . . An hopeless nation .

When you default; debt problem doesnt go away; it become worse;

That is why you're knocked out until 2037

If we delay some salaries for a week; what is problem;

Nigeria delay salaries for six months; Pension for 2yrs

PRIORITY - PAY DEBT - unless you're completely BROKE like GHANA

Even in your salary payslip - 1st charge is loan repayment. The same for gov - 1st charge is to repay debt.

vaxx:
You should stop being an obtuse . The worse that could ever happens to a country is her inability not it be able pay her workers salaries . That is more terrible in any given time .

Renegotiating of debt is common in many advance nation , what is not common is inability not to pay salaries which is the mess kenya find herself .

You are broke , common salary is now very difficult for you to remit . That is what is cal financial abyass . . An hopeless nation

rvp2018:
When you default; debt problem doesnt go away; it become worse;

That is why you're knocked out until 2037

If we delay some salaries for a week; what is problem;

Nigeria delay salaries for six months; Pension for 2yrs

PRIORITY - PAY DEBT - unless you're completely BROKE like GHANA

Even in your salary payslip - 1st charge is loan repayment. The same for gov - 1st charge is to repay debt.

@the bolded, you mean some Nigerian state Governors (very few states at the moment) do that to state workers. The federal workers hardly have such problems.

GeneralDae:
I swear down.

Wandayi said that civil servants and MPs have gone to Easter without salaries despite the government's efforts to increase revenue collection. revealed that only the police and military have been paid. "Today, about six months into this regime, Kenya cannot pay salaries, leave alone finance its other operations.

Don't listen to opposition propaganda! If the government ever failed to pay salaries you would know. Kenyans have no qualms protesting, it would be all over the news.

Nigeria debt servicing ratio is 100% - that mean your federal gov cant pay salaries and recurrent expenditure without borrowing.
That is why entire year lecturers were on strike - universities close.
Your Zoo is beyond redemption.

GeneralDae:
@the bolded, you mean some Nigerian state Governors (very few states at the moment) do that to state workers. The federal workers hardly have such problems.

rvp2018:
When you default; debt problem doesnt go away; it become worse;

That is why you're knocked out until 2037

If we delay some salaries for a week; what is problem;

Nigeria delay salaries for six months; Pension for 2yrs

PRIORITY - PAY DEBT

it is not called default , in technical terms , it is called debt restructuring , you renogotiate the debt to pay at covinenence term when the financial system can support it without any delays. Therefore you grow your portfolio and your capitals increased which is then invested into another profitable ventures . So by the time you will be paying again , it will be from profit made from your capitals and not the usual revenue for servicing debt .

Now your country is broke , she has already exceeded the option of looking into domestic market for borrowing , what she can only do for now is to stop payment of salaries at least to divert the money into debt services inorder to continue with a clear record of not been a defaulter so as to be able to raised another loan in the future .

So your govt prefer to kill her citizens by not paying their salaries and instead used the money meant for civil servant wages to pay back loans.


Very poor country

rvp2018:
Nigeria debt servicing ratio is 100% - that mean your federal gov cant pay salaries and recurrent expenditure without borrowing.
That is why entire year lecturers were on strike - universities close.
Your Zoo is beyond redemption.

You've been saying this nonsense since 2021. if that were to be the case we would have been bankrupt by now, it's a no brainer. The fact that we aren't tells you, you do not get the full gist of the story just surface headlines.

Ghana defaulted.
Ghana then forced investor to accept haircut.
Domestic investors have accepted - likes of Zenith bank booked their loses - Stanbic and South africans there.
Ghanians the same.
You still have to convince external debtors to take an haircut.
Zambia been on debt restructuring since 2020.

Defaulting is the worse option.

As for kenya - we could easily borrow whole bunch of domestic debt - except we have refused to pay HIGH INTEREST rate.

Kenya gov is refusing money because anything more than 14% is crazy.

In Main and small zoo of west africa - you gov has no qualms borrowing at 20-30%.

vaxx:
it is not called default , in technical terms , it is called debt restructuring , you renogotiate the debt to pay at covinenence term when the financial system can support it without any delays. Therefore you grow your portfolio and your capitals increased which is then invested into another profitable ventures . So by the time you will be paying again , it will be from profit made from your capitals and not the usual revenue for servicing debt .

Now your country is broke , she has already exceeded the option of looking into domestic market for borrowing , what se can only d for now is to stop payment of salaries at least to divert the money into debt services inorder to continue with a clear record of not been a defaulter so as to been able to raised another loan in the future .

So your govt prefer to kill her citizens by not paying their salaries and instead used the money meant for civil servant wages to pay back loans.


Very poor country

What is Nigeria Debt Servicing Ratio.
Kenya one has risen from 24% to 33% to 40% to 50% to now 60%.
Ideally 33% is benchmark for gov or your as individual.
1/3 of your salary or revenue should go to debt repayment - obviously Kenya has dropped the ball - hence the occasionally cash crunch.

Argue with facts or just throw facts outside like Ghanians - and rant like a mad man.

What is Nigeria Debt Servicing Ratio.

GeneralDae:
You've been saying this nonsense since 2021, if that were to be the case we would have been bankrupt by now, it's a no brainer. The fact that we aren't tells you, you do not get the full gist of the story just surface headlines.

rvp2018:
Ghana defaulted.
Ghana then forced investor to accept haircut.
Domestic investors have accepted - likes of Zenith bank booked their loses - Stanbic and South africans there.
Ghanians the same.
You still have to convince external debtors to take an haircut.
Zambia been on debt restructuring since 2020.

Defaulting is the worse option.

As for kenya - we could easily borrow whole bunch of domestic debt - except we have refused to pay HIGH INTEREST rate.

Kenya gov is refusing money because anything more than 14% is crazy.

In Main and small zoo of west africa - you gov has no qualms borrowing at 20-30%.

kenya case is more worse than being a defualter . Just for the purpose of having a good record from lenders balance sheet and been able to seek more loan in the future , you decide to hang your workers by their neck . You refuse them their salaries and then divert the salaries to pay loans . That is a far worse problem. An incompetent govt that has lost all ideas of economic salvation .


Ghana on the other hand renegotiate her debt statues , we decide to pay later rather than now , we invest the money for the payment in another profitable option while waiting for the matured period and instead of using the money coming from our revenue , we will be taping into profit , therefore we will be paying our lenders with profit and not from our normal tax revenue . That is more prudent .

rvp2018:
What is Nigeria Debt Servicing Ratio.
Kenya one has risen from 24% to 33% to 40% to 50% to now 60%.
Ideally 33% is benchmark for gov or your as individual.
1/3 of your salary or revenue should go to debt repayment - obviously Kenya has dropped the ball - hence the occasionally cash crunch.

Argue with facts or just throw facts outside like Ghanians - and rant like a mad man.

What is Nigeria Debt Servicing Ratio.

I have told you before. Nigeria prepares her budget based on estimated oil revenues for the year. In the first three quarters of 2022, Nigeria did not make up to that estimated revenue from oil due to lower than expected oil production (some record lows despite high prices).

So the debt servicing ( mostly maturities from 2014-2015) surpassed the revenues.

In all of those times, Nigeeia was successfully allocating FAAC allocations from the Federal Government of around 2 Billion dollars to states monthly as well as the equipping of the military and maritime with billions of dollars. NNPC was even exploring new oil fields and repairing refineries. All of these were not from borrowing.

Nigeria was building infrastructures and doing a lot of stuff, not all came from borrowing. Otherwise Nigerian borrowing in 2022 would have been the most outrageous in Africa.

You simply run out of options and had to default.
Ghana last desperate attempt was raise revenue from mobile money transaction.
Obviously with your high tax rate - you had reach the limit of what to tax.
And you had to default.

To get out of default - wait for IMF to come with shock therapy - that will include MASS FIRING of gov staff/cancellation of projects.
Or you think IMF are coming to joke around.

Kenya has to delay default as much as it can.
Defaulting is worst thing that could happen to a country.

Like I said the good thing - Kenya revenues are rising - we could hit 30B dollars next year - and our debt is coming down.

Our estimate is we are out of the hole in 2yrs. To be precise - almost one year from now - by 2024/2025 - we would have sorted our debt problem.

Ghana will not begin to pay debt until 2027 - and will finish last restructure in 2037.

In that period IMF staffers will run Ghana gov.

vaxx:
kenya case is more worse than being a defualter . Just for the purpose of having a good record from lenders balance sheet and been able to seek more loan in the future , you decide to hang your workers by their neck . You refuse them their salaries and then divert the salaries to pay loans . That is a far worse problem. An incompetent govt that has lost all ideas of economic salvation .


Ghana on the other hand renegotiate her debt statues , we decide to pay later rather than now , we invest the money for the payment in another profitable option while waiting for the matured period and instead of using the money coming from our revenue , we will be taping into profit , therefore we will be paying our lenders with profit and not from our normal tax revenue . That is more prudent .

Ghana prudent policy is indeed bearing fruits ....

Yes at least you were able to nail the domestic debt restructuring - domestic creditors have little in negotiating power.
Now go and negotiate with Chinese
Tell China-man to take haircut - and you'll know China man doesnt joke around.

vaxx:
Ghana prudent policy is indeed bearing fruits ....

rvp2018:
You simply run out of options and had to default.
Ghana last desperate attempt was raise revenue from mobile money transaction.
Obviously with your high tax rate - you had reach the limit.
And you had to default.

To get out of default - wait for IMF to come with shock therapy - that will include MASS FIRING of gov staff/cancellation of projects.
Or you think IMF are coming to joke around.

Kenya has to delay default as much as it can.

Defaulting is worst thing that could happen to a country.

Nah , poor Kenya citizens , in financial lending , there is option of renegotiation , and that is the option we have taking . Far better than not paying govt workers salaries . We do not want to find ourselves in this kenya mess in future .Imf is also another good options , it is an alternative way to raised money and pay back in a very long term with little interest since that is the option we need now instead of borrowing hard currency from a domestic market like what kenya has done . We are not ready to grow more debt but to restructured the existing one.

Imf aren't that blind with such your aforementioned implicating policy anymore , they bring in to table what you are ready to sacrifice. They don't dictate , they allow you to do the needful . I am aware you aren't brilliant not to know the new policy.


Kenya on the hands prefer to kill her own citizens just for the purpose of having a clear record on her lender balance sheet. That is cruel . You are yet to pay almost five months salary . Useless govt

rvp2018:
Like I said the good thing - Kenya revenues are rising - we could hit 30B dollars next year - and our debt is coming down.

stop the lies you idiot . You are not making any potential gain and your buisnesses are not recording much profit and growth. all this are affecting your taxes, how will revenue rise up in such a situation not even an increased in tax returns can do the magic .if you like overtaxed your citizens with tax while business shrink


This is what your economic advisers has to say as regards your revenue .

rvp2018:
Yes at least you were able to nail the domestic debt restructuring - domestic creditors have little in negotiating power.
Now go and negotiate with Chinese
Tell China-man to take haircut - and you'll know China man doesnt joke around.

renegotiation is a vehicle used by country that has the balls , Ghana is already achieving success . We are done with domestic market and it comes as a gain , we are going to actualized it with foreign market as well.


Sacrificing salary payment like kenya will never be an option . We won't be that mad.

Happy Easter everyone!! 🥶🥳

https://pbs.twimg.com/media/FtLT-diWcAADqLf.jpg

rvp2018:
Opposition propaganda from a party that nearly took Kenya to Ghana - default. Mps were paid salaries.

The new administration has worked very hard to avoid Ghana default.

Is it not a fact that workers have not been paid?

Where were you expecting Kenya to get money from when 75% to debt servicing and your wages takes 55% of revenue , how were you expecting wages to be paid?

This is the Abetifi Stone Age Park. It is a multi-purpose tourist site and museum which depicts the indigenous stone age era. This fascinating heritage site is located in Kwahu Abetifi in the Eastern Region.

The Abetifi Stone Age Park is currently the only Park in Ghana that houses one of the oldest caves known to have been occupied by people in Kwahu over 12,500 years ago. Humans are said to have lived in the caves over 12,500 years ago, according to the Archaeology Department of the University of Ghana.

What it means is that people lived in the caves for more than 10,500 years before Jesus Christ was born.

#Credit: Daily Graphic

More on the caves

rvp2018:
I quote many things to referenced - it was just opposition - it was everyone screaming Ghana is broke - and it is.
Ghana is bankrupt and defaulted.
Kenya gov is not.
Nigeria is more likely to default.

Ghana spent 35% of revenue on debt servicing and 30% on wages so it can't be broke.
Ghana eurobond holders said they were fully paid throughout last year and this January. So in essence nothing has been defaulted on.

Go and worry about were Kenya will get money from to pay your workers and why Kenya is still defaulting on more debt.

rvp2018:
What is Nigeria Debt Servicing Ratio.
Kenya one has risen from 24% to 33% to 40% to 50% to now 60%.
Ideally 33% is benchmark for gov or your as individual.
1/3 of your salary or revenue should go to debt repayment - obviously Kenya has dropped the ball - hence the occasionally cash crunch.

Argue with facts or just throw facts outside like Ghanians - and rant like a mad man.

What is Nigeria Debt Servicing Ratio.

mad man

Kenya is doing 75% of revenue... Kenyan wages, salaries and compensation takes 55% of revenue

There's no way to balance this and that is why Kenya is bankrupt and has defaulted of so many debt.
Now you don't want to pay workers.. the headache is on Kenya to solve and the IMF couldn't save you from this train reck.

Neither Ghana or Nigeria has gotten to this level of mess yet.
This is why you can see big budget financing projects going on in both countries but not in Kenya.

rvp2018:
Yes at least you were able to nail the domestic debt restructuring - domestic creditors have little in negotiating power.
Now go and negotiate with Chinese
Tell China-man to take haircut - and you'll know China man doesnt joke around.

Luckily though, Ghana didn't borrow much from China unlike Zambia.

rvp2018:
Yes at least you were able to nail the domestic debt restructuring - domestic creditors have little in negotiating power.
Now go and negotiate with Chinese
Tell China-man to take haircut - and you'll know China man doesnt joke around.

Good enough Ghana didn't borrow as much from China like Kenya.

We can sell them a small portion of our daily oil lifting from the Jubilee field and ask China to keep the money 😂

GeneralDae:
Luckily though, Ghana didn't borrow much from China unlike Zambia.

kenya even borrowed more from china than us .

Supreme court of Ghana in picture......

Some semblance of London here