₦airaland Forum

Mkenya2019:
The Zoo is even worse.
They've been surviving by printing money

50B dollars in overdraft. Now you know how it able to survive with 120% debt servicing ratio. The just print Naira.

https://www.bloomberg.com/news/articles/2023-01-17/a-50-billion-overdraft-is-set-to-become-nigeria-s-debt#xj4y7vzkg

Of course it's calculated as part of the debts in Nigeria seperate from public debts. But still doesn't explain why Nigeria is not worse off than it is.

Just40:
Everyone knows that Ghana has never needed the IMF just like we currently don't need them because all the solutions we need are with us.

Unfortunately the situation is not the same for Kenya because without the IMF, that country won't exist.

Just like they may have to save you again, this year from hunger.

I will take this as a usual nonsensical message peddled by a special agent at the mental hospital final stage.

Shma2023:
How could you imagine that $3.5 billion equates to 72% of your revenue servicing rate? How dumb are you?

Go check your CBG data. You will see nothing like $3.5Billion; unless chronic glaucoma has done so much damage

That's you imagining it is 🤣😂

Should I help you with the post of the world bank with every country debt payment due for the year?

Kenya borrowed recklessly hence the 15 billion dollars you guys have to spend on debt in 2023.

Shma2023:
There is nothing to correct; dwarf. You spend 80% of your entire revenue in servicing debt. I'm not saying this to troll; it's a fact!

dream on

3.5 billion is not 80% of Ghana's revenue 😂🤣

Mkenya2019:
Broke Ghana that long suspended any debt repayment - printed 44B cedis (that is almost 4-5B dollars) last year - to pay debt

https://www.myjoyonline.com/bog-justifies-financing-of-governments-2022-budget-with-%C2%A244-5bn/

The Bank of Ghana (BoG) has justified financing of the government’s 2022 budget with about ¢44.5 billion.

According to the Central Bank, its net claims on the government increased by about ¢44.5 billion at the end of December 2022.

This is coming after renewed discussion in the media regarding the BoG’s financing of the budget in 2022.

In a statement, the Central Bank said its financing of government was part of a crises management tool used in dealing with the difficulties of 2022.

We are not broke according to every indication

Also we printed 80 billion cedis and not 44 🤣😂

Shma2023:
I will take this as a usual nonsensical message peddled by a special agent at the mental hospital final stage.

I care less 😂🤣

I'm only going to educate you, how you take it is your business after all my country is not the one that is broke, refused to pay salaries and also defaulting on debts

No, it perfect explanation.
Your Treasury has been asking for overdraft from your central bank to meet it's obligation.
Central bank mint the money and hand it to treasury.
Treasury pay salaries, contractors, etc.
This creates inflation as it increase money supply beyond economic output.
This nationalize debt.
Create poverty.

The Zoogeria has been doing very wonderful in that dept - overtaking India.

GeneralDae:
Of course it's calculated as part of the debts in Nigeria seperate from public debts. But still doesn't explain why Nigeria is not worse off than it is.

Mkenya2019:
No, it perfect explanation.
Your Treasury has been asking for overdraft from your central bank to meet it's obligation.
Central bank mint the money and hand it to treasury.
Treasury pay salaries, contractors, etc.
This creates inflation as it increase money supply beyond economic output.
Nationalize debt.
Create poverty.

Lol, clown.

The clown is Buhari and you - dealing with high inflation, poverty, darkness, bad roads, insecurity.

50B dollars worth of overdraft. That is crazy.

Kenya gov last year went out of it way to take overdraft of 200m dollar from central bank or something like that.


This highest we have as oustanding overdraft - 0.5B dollars versus 50B dollars from NIGERIA - ZOOGERIA - crazy country

https://www.businessdailyafrica.com/bd/economy/treasury-takes-biggest-overdraft--4113964
The official report shows that the outstanding overdraft at the Central Bank of Kenya (CBK) rose to Sh64.51 billion by end of Friday last week .

GeneralDae:
Lol, clown.

Mkenya2019:
You dont know what youre talking about.
Last default Tanzania had in 1985 - Nyerere had to resign.
Defaulting is never an option unless you've reached a wall like Ghana.
Kenya has not reached a wall.
We can decide to increase the interest rates of gov bonds - and take in more debt.
After you default - it will take you long time - to convince investors and creditors to lend you again.
Why on earth would one do that?
Argentina has yet to recover since 2000.
Zimbwabwe defaulted in 1999 - yet to recover.

you have no other choice than to default. The civil servants will go mad and start going to the streets and soon afterwards you will be declared another srilanka.

So why take a risk?

Better u default like Zambia and Ghana

You're praying hard so you can overtake kenya finally
Never gonna happen
We will fire civil servants than default.
Default is not an option.

0.7M civil servants compared to 2.1M private sector employes and 27M in informal sector.

Why would we sink the country to please a few civil servants.

We will retrench before we default.

Kazikazi:
you have no other choice than to default. The civil servants will go mad and start going to the streets and soon afterwards you will be declared another srilanka.

So why take a risk?

Better u default like Zambia and Ghana

Mkenya2019:
The clown is Buhari and you - dealing with high inflation, poverty, darkness, bad roads, insecurity.

50B dollars worth of overdraft. That is crazy.

Kenya gov last year went out of it way to take overdraft of 200m dollar from central bank or something like that.

Yeah but we still survive. Many economies cannot survive doing this.
We can debate the viability of this economic principle later. Today, I have little of such time.

Yeah - get the codeine at least to a level you can engage in a civil discourse.

Printing currency and defaulting are "easy" options to take in short term - long term - you're going to create huge poverty mess.

Gov should engage in prudent public finance mgt - take the hard and difficult - even unpopular decision - because MONEY DOESNT GROW IN TREES. Eventually all the easy options come to bite you.

GeneralDae:
Yeah but we still survive. Many economies cannot survive doing this.
We can debate the viability of this economic principle later. Today, I have little of such time.

Mkenya2019:
The clown is Buhari and you - dealing with high inflation, poverty, darkness, bad roads, insecurity.

50B dollars worth of overdraft. That is crazy.

Kenya gov last year went out of it way to take overdraft of 200m dollar from central bank or something like that.


This highest we have as oustanding overdraft - 0.5B dollars versus 50B dollars from NIGERIA - ZOOGERIA - crazy country

https://www.businessdailyafrica.com/bd/economy/treasury-takes-biggest-overdraft--4113964
The official report shows that the outstanding overdraft at the Central Bank of Kenya (CBK) rose to Sh64.51 billion by end of Friday last week .

Kenya is a much smaller economy. You shouldn't be comparing the size of your debt to that of Nigeria. You can't survive what Nigeria does, you would collapse in 6 months.

Kazikazi:
you have no other choice than to default. The civil servants will go mad and start going to the streets and soon afterwards you will be declared another srilanka.

So why take a risk?

Better u default like Zambia and Ghana

correct your self
. Ghana hasn't defaulted yet.

Not a single debt has been defaulted on

GeneralDae:
Yeah but we still survive. Many economies cannot survive doing this.
We can debate the viability of this economic principle later. Today, I have little of such time.

🤣😂

SMaller? 1/4. So Ideally you should be doing 2B of oustanding overdraft. 50B. That is 100 times!!!!!!!!! kenya's 0.5.

GeneralDae:
Kenya is a much smaller economy. You shouldn't be comparing the size of your debt to that of Nigeria. You can't survive what Nigeria does, you would collapse in 6 months.

Take your meds - everyone in world knows Ghana has defaulted. Jesus you need help.

Just40:
correct your self
. Ghana hasn't defaulted yet

Mkenya2019:
Take your meds - everyone in world knows Ghana has defaulted. Jesus you need help.

You need the med more

If Ghana has defaulted, why can't you list the debt instruments that it has defaulted on, just like I did with Kenya default?
😂🤣

Misery really loves company

Keep searching the entire internet for the debt instruments that Ghana has defaulted on @rvp

Madness loves work 😂

Ghana defaulted on all it debts apart from Treasury Bills.
It suspended all debt repayment (interest+principals) last year.
Ghana will resume payment of domestic debt in 2027.
And it also forced holder of domestic debt to take less money than due to them when they start repaying in 2027.
That is called haircut.
It hasnt paid any external debt - yet to nail a debt restructure.
It stopped paying Eurobond last year.

And for now it appears - they are still printing cedis despite debt suspension- and creating inflation

You need medical help. Your madness is CLINICAL.

Just40:
You need the med more

If Ghana has defaulted, why can't you list the debt instruments that it has defaulted on, just like I did with Kenya default?
😂🤣

Misery really loves company

Mkenya2019:
Ghana defaulted on all it debts apart from Treasury Bills.
It suspended all debt repayment (interest+principals) last year.
Ghana will resume payment of domestic debt in 2027.
And it also forced holder of domestic debt to take less money than due to them when they start repaying in 2027.
That is called haircut.
It hasnt paid any external debt - yet to nail a debt restructure.
It stopped paying Eurobond last year.

You need medical help. Your madness is CLINICAL.

it's good you can't list any 🤩🤣😂

All of Ghana Eurobond holders have already told the world that they received payment, local bond holders have already told the news media that they've been paid as due.

That's the beauty of a negotiation strategy when you hold a lot of cards.... I told you when it happened that it was just a negotiation strategy.

Do you need me to post prove of payments or you don't know that default is when you fail to make payment?

You're having a metal breakdown and needs to be checked in😂🤣

You're a waste of time.
Let me log off until I find something worth responding to.

This thread has literally gone to the dogs - I am going to try twitter.

Just40:
it's good you can't list any 🤩🤣😂

All of Ghana Eurobond holders have already told the world that they received payment, local bond holders have already told the news media that they've been paid as due.

That's the beauty of a negotiation strategy when you hold a lot of cards.... I told you when it happened that it was just a negotiation strategy.

Do you need me to post prove of payments or you don't know that default is when you fail to make payment?

You're having a metal breakdown and needs to be checked in😂🤣

Mkenya2019:
You're a waste of time.
Let me log off until I find something worth responding to.

This thread has literally gone to the dogs - I am going to try twitter.

frustration is written all over this post ...

You throw tantrums like a 2 years old kid.

You don't like facts because they prevent you from having your way to lie ... Such a man child 😂🤣

Tell me you know more than Neuberger Berman

Just40:
That's you imagining it is 🤣😂

Should I help you with the post of the world bank with every country debt payment due for the year?

Kenya borrowed recklessly hence the 15 billion dollars you guys have to spend on debt in 2023.

Is it because your CBG is useless and dysfunctional that you prefer trusting data for foreign entities over your own?

Zombie, start believing in your zoo. Even if it's crumbling. Just pray for it and you will see miracles. At this time, no redemption outside prayers can work.

Shma2023:
Is it because your CBG is useless and dysfunctional that you prefer trusting data for foreign entities over your own?

Zombie, start believing in your zoo. Even if it's crumbling. Just pray for it and you will see miracles. At this time, no redemption outside prayers can work.

My central bank is not responsible for collating how much Kenya pays in debt serving for 2023.

It is only responsible for Ghana and it has told the world how much payment Ghana must make.


Next distraction, dwarf 🤣😂

Just40:
dream on

3.5 billion is not 80% of Ghana's revenue 😂🤣

How can 3.5 billion equate to 80%? Or your total revenue is a paltry 4.4 Billion?


Zombie, why are you this obtuse?

Just40:
My central bank is not responsible for collating how much Kenya pays in debt serving for 2023.

It is only responsible for Ghana and it has told the world how much payment Ghana must make.


Next distraction, dwarf 🤣😂

Believe in your country, Bozo. World Bank works with projections more often than not. Your government document data.

I have the data. Don't think you can lie. But if you insist I'm gonna lay it bare.

Buffoon.

Shma2023:
How can 3.5 billion equate to 80%? Or your total revenue is a paltry 4.4 Billion?


Zombie, why are you this obtuse?

Tell me how 3.5 billion equate to 80%, after all you're the one making that claim😂🤣


Desperate orangutan

Just40:
Tell me how 3.5 billion equate to 80% 😂🤣


Desperate orangutan

You are the one to tell me that since 3.5billion came from your stinking @nus.

Bozo!

Shma2023:
You are the one to tell me that since 3.5billion came from your stinking @nus.

Bozo!

suck on it 🤣😂

Mad cow,
That was projected last year before you defaulted.
That is why you're pasting an image.

I do hope you work as Minister of Propaganda for your gov.

Ghana long defaulted except for few of the loans (treasury bills, IMF & WB)

Ghana has stopped making payments on its external debts to bondholders, other commercial lenders and foreign governments, making it the latest deeply indebted developing country to fail to make good on its foreign obligations.

In a statement on Monday, the country’s finance ministry announced “a suspension of all debt service payments” on external government debts, including foreign currency bonds, commercial loans and “most of our bilateral debt”.

Just40:
suck on it 🤣😂