₦airaland Forum

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

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.

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

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.

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

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

jl115:
BTW so far I'm impressed with Ruto... Especially his no nonsense approach to failing SOEs

We shall have this engagement sometime in 2023 inshallah.

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

The silence from resident madman is proudly sponsored by Ghana sovereign default.

They should default daily so we can have some peace to engage in mature adult convo.

I believe Egypt's Cairo when we compare infra, housing, and such will beat Joburg

jl115:
like I said before SA is ahead of Egypt in terms of pure infrastructure as well.....so what's your point

WB/IMF uses nominal GDP for that - and also for daily poverty rate and middle class.
I know Kenya will get to upper middle income when we approach 4,000usd.
South Africa need to get to 12,000usd to become like Mauritus a developed country.

USD is just gold standard for international comparison despite drawbacks like temporary currency shocks and of course south asains who keep their economies strength hidden.

jl115:
Yes its more complicated to calculate however it is a much more fair means to compare economies.... That's why they developed it.

Also glad you saw your mistake wrt to GDP nominal not being a factor when measuring which income class a country falls in.

Now that we are on the right track - let resume next year on those indicators. Leave political-social indicators. Egypt is military islamic dictatorship. I wont want to live there.

jl115:
Ive already posted several sources that clearly show SA is far ahead of Egypt wrt infrastructure as well so yeah.... Even this argument of yours has gone bust

It has drawbacks - it hard to update (for example we already know Ghana has tanked using USD) and secondly it doesnt take care of quality - haircut in Kenya and South Africa - are not exactly the same - South Africa one likely to be more hygienic and will include massage. Here in Geneva I pay 10 times for haircut - but the number of haircutting machines they have is also 10 times.

jl115:
GDP ppp is much more useful at comparing countries with each other since it takes into account cost of living.....a fvcking important factor when evaluating the efficiency and well being of an economy.

And no, GNI is used to classify a country within a certain income group, not gdp nominal

Rural south africa has those 30% indicators - of political freedoms. I am not interested in such. I am interested in Joburg city and Nairobi city in terms of urban development - and purely economic indicators. When we add indicators of political and social nature - human rights - then obviously western cities will always win.

And it's a good thing - I dont have beef with Mercer.

I have beef with you using it wrongly. Mercer QOL is meant to help expat choose where to live happily - most of them are western nation experts. They have to choose btw middle eastern or chinese 1st or next world cities - or Joburg - where they can live a more wholesome free life - although crime and power cuts will soon take them down.

jl115:
why you shifting the goal posts?? You said less urban development categories were included vs political /environmental.... Yet that statement was found to be untrue.

No such thing as "naked I eye test" when we are talking about actual researched indexes

Everyone uses nominal GDP - a country is LDC< Low MIddle or Upper Middle Income or Developed based on Nominal GDP; It's default gold standard. PPP is mainly used for internal purposes really.

jl115:
another common rvp L

Yes anything less than 100% urban development which includes political-social-cultural-huma-rights indicators - we cannot use to compare cities in terms of urban development. We rather use the naked eye test.

Is Joburg more free - of course - I hear your cabinet has even allowed smoking of weed - gays can marry - people have political and individual rights - these are good things to have - but when I want to compare say Gautrain - and chinese fast trains - then I get lost.

jl115:
Muppet I'm not debating wether "focus" means the same as contain/ includes.

You clearly said "less on urban development"..... Meaning mercer includes/contains less urban development categories.... Which as we've established the opposite is true.

You're bankrupt because you waste money. 1962. 1972.1982. 2022. Next time dont waste money in the Northern Region or paying nurses Allowances.

We invest in Nairobi because it's goose that lay the golden egg. Why would we invest in Turkana that size of Ghana almost and has few people.

Now Ghana that literally mines money or gold in their field is BANKRUPT. And everyone knows why - wasteful expenditure.

vaxx:
saying one can drive within Ghana in a single is an act of slowpoke. It takes you nothing less than 20 hours drive from Accra to zabzugu in northern region of Ghana for example , how is it tiny . The northern region for example is about 71 square kilometres. How is that tiny ? Are you an idiot. Ghana is not populated all over ...it is just a courry of 30 million people ( Accra and Kumasi has taken 1/ 3 of the whole total population) ).

Nominal GDP I will keep repeating is gold standard as PPP is rarely accurate while USD can run ahead and tell us Ghana is going down - and people are about to suffer economic depression.

That is why USD is the king except for a few currency manipulators like Chinese/Japanase - and those south asians who export tonnes of things - way beyond their GDP.

Veitnam has weakest currency as their export is already way above their GDP. Those are countries where PPP can tell us their true economic strength - which they understate.

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

Again - I used the word "contains" - which mean INCLUDES - those are synonyms. In fact in my programming life - I use either Contain or Include interchangeably.

Focused is totally different thing. In short Joburg is not ahead of Chinese cities. It requires common sense. The data is suppose to explain common sense.

Should I learn Afrikaaner or will you learn English

jl115:
Refresh your memory :



Also my name isn't Samorobo.... The naked eye test b.s doesn't float with me.

The madman I know you're sweating but what you done is basically DEFAULT. It appears there was no amicable negotiation with external creditors and today you announce a technical default.

I knew with kind of brains (or more lack of ) we've seen here - it was a matter of time.

The music...

"Ghana just announced it can't service external debt including Eurobonds, commercial and bilateral loans!

FYI, we cannot repay our debt because we are insolvent or bankrupt!

Fitch, S&P and Moody's are expected to immediately downgrade our rating to Default ( D)!
"

Not anymore. I think your pop has grown to almost 220 (in absence of census which youre too broke to afford) and GDP is anything 440-490B - this year should be up for haircut.

As of 2021 kenya gdp per capita is 113B divided by 51 million - close to 2,250.

Obaaderemi2:
Nigeria has a bigger GDP per capita than Kenya.

Okay Ghanian - here we go with default. That should keep you busy for next two decades as you battle bankruptcy. We shall see you again somewhere in 2040 - when Kenya - then a developed country - will be sending AID to bail you out.

External debt default.

Your inkling to heckle. Let the other one with two brain cells left at least engage us today. Take a rest.

Just30:
another nonsense excuse for why Kenya remain undeveloped

You'll build highways in desert because it leads to where people live just like Ghana and Algeria have done.
Even Burkina Faso has done it.

Your country is tiny - one can drive round it in a single day. Most of it arable. Kenya is different. Small part of it is arable - the rest is mostly semi arid and arid. Your country is populated all over. Kenya isnt. Why would we build highways in desert?

vaxx:
Good reason you shouldn't be comparing your hell-hole of a country with any west africa state. A far remote area in Ghana enjoys all the basic amenities nairobians will enjoy.

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.

jl115:
I don't do assumptions..... You said the Mercer QOL ranking focus more on political stability and freedoms than urban development... Yet 7 out of the 10 categories are infrastructure related..... That's the point

This beyond your paygrade. Stick to heckling. Let the Boer argue

Just30:
Stop arguing... SA cities beat Asian cities by a mile for a reason... They are more developed

Most of the Asian cities they beat has huge problems that SA has long solved

How much does Joburg beat Nairobi for example. Let assume 1 category is 10 points. If you take off 30 points from Asia cities because of their political enviroment; you've made huge difference.

That again is why I warned you about using one indices like a desperate Ghanian or Tanzanian

jl115:
7 out of the 10 categories are infrastructure related... So try again

The remainder is how you come close to many Asian cities. Nobody said South Africa cities dont have infrastructure better than many in Africa. But they are far behind many in Asia now.

jl115:
the bolded are all infrastructure related FYI.... So try answering my question again

I already pasted the indicators they look for in their QOL - which are western civilization concept heavy on political freedoms. South Africa accept gay rights and marriage - such things can take down Chinese smart cities. Otherwise if Dubais, Shanghais and Shenhzen were considered purely on urban living - aka naked eye test - few western nations would come close.

This year, Mercer provides a separate ranking on personal safety, which analyses cities’ internal stability; crime levels; law enforcement; limitations on personal freedom; relationships with other countries and freedom of the press. Personal safety is the cornerstone of stability in any city, without which business and talent cannot thrive. This year, Western Europe dominates the rankings, with Luxembourg named as the safest city in the world, followed by Helsinki and the Swiss cities of Basel, Bern and Zurich in joint second. According to Mercer’s 2019 personal safety ranking, Damascus ranked bottom in 231st place and Bangui in the Central African Republic scored second lowest in 230th place.

Reposting again their indicators and methodologies

Mercer evaluates local living conditions in more than 450 cities surveyed worldwide. Living conditions are analysed according to 39 factors, grouped in 10 categories:
Political and social environment (political stability, crime, law enforcement, etc.).
Economic environment (currency exchange regulations, banking services).
Socio-cultural environment (media availability and censorship, limitations on personal freedom).
Medical and health considerations (medical supplies and services, infectious diseases, sewage, waste disposal, air pollution).
Schools and education (standards and availability of international schools).
Public services and transportation (electricity, water, public transportation, traffic congestion, etc.).
Recreation (restaurants, theatres, cinemas, sports and leisure).
Consumer goods (availability of food/daily consumption items, cars).
Housing (rental housing, household appliances, furniture, maintenance services).
Natural environment (climate, record of natural disasters).

And you know which expatriates - they interview - western nation aka white experts.

That again is danger of a single story.

jl115:
please provide legit source for the bolded

You always tout the Mercer QOL - as measure of cities - while it contains HDI like indicators on human rights, freedoms, life expectancy - and less on urban development. That only way South Africa can measure up to Chinese or Middle East cities because they will score zero in political freedoms.

jl115:
I've posted these sources before....just consult the archives

Kenya has 5 cities now in populated areas.

Again, study this map keenly and explain what and how we would justify spending money in semi arid wasteland.

Majority of those places should be left for wild animals, forests and such.

vaxx:
stop fooling yourself . Nairobi is not the only part of kenya. Though, it even suck.

Why is there no single international airport in your northern part, No stable electricity in northern kenya , No single interchange in northern kenya. There are more setbacks as well. But let's limit it to this item .

if you want to know how developed an africa country look like , Ask for their northern development. people overlook it too much.

Too many people in your northern county will be consider as slaves in Ghana .

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.

vankelvin:
Where are the K-nyansh guys on this platform
As we've always told you, better we not have a national airline than to have a useless non profiting Airline like Kenyan Air. Primitives

Many people are seeing Nairobi preminence as Africa capital


https://www.youtube.com/watch?v=lglUbYkncTY