₦airaland Forum

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

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.

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.

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.

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

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

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.

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 ?

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.

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.

Ruto makes technology the center of kenya transformation

In today Independence Day celebration - the debate wasnt about long time freedom fighters - but new digital freedom fighters.

Meta verse (Facebook) - Global Affairs Sir NIck addresses the country. Every attendee got a free scholarship to tech course at Arizona.

Ruto is nailing the sector that will see Kenya leapfrog into developed country like China did with manufacturing in record time.

Kenyans told us that they want technology to drive our economy. That is why we have decided to have a 100,000KM superhighway that is going to be built to enable internet access in every part of the Country - President William Ruto

If there’s any doubt in anybody’s mind about the power of technology, just look at what the Hustler Fund has achieved; in 12 days, we have 15.4 million subscribers and lent out Ksh 7.54 B

Universal Health Coverage is going to be provided on a digital platform, E-Health - President Ruto #JamhuriDay2022

In 6 months, we intend to transfer 85% of the remaining gov’t services to the digital space - about 5,000- President Ruto

Kenyans will also manufacture cheap smart one of less than 50 dollars - so everyone can move to digital space


And finally -

Our junior secondary schools will be domiciled in primary schools to save parents the huge cost of taking their children to schools far away from their homes. I have instructed TSC to commence the recruitment 30,000 teachers.

Kenya Fixed Internet approaches 1 million....to be ramped to 8 million - kenya has about 13m households. Highest in Sub Sahara is South Africa at 2 million last I checked - look they are at 1.7 with fiber at 1.3 - far cry from South Africa 17.5M households. Ghana still at 80K and Nigeria around 110K. Pretty terrible. The future is digital economy fired by fiber to home - anything else will be too expensive - too erratic - and not unlimited
https://www.businessdailyafrica.com/bd/corporate/companies/safaricom-grows-fixed-internet-market-share--4051704
“During the quarter under review, Safaricom Plc recorded the highest market shares in fixed data subscriptions at 35.6 per cent followed by Wananchi Group at 25.5 per cent,” the industry regulator says in the report.

The data shows that the number of homes and offices linked to fixed Internet jumped eight per cent to 986,462 in the quarter that ended September from 915,674 in the prior quarter that ended June.

Waste of time and money - building interchanges instead of building the roads.
Secondly insitu casting of interchanges is last century
Try to pre-cast the columns and erect them in a fortnight.

Just30:
The kind of abundance of projects that Kenya won't be able to carry out over the next 10 to 15 years because Kenya is bankrupt.
Tema beach road and interchange


https://www.youtube.com/watch?v=0TZTqW1iL1U

Learn basic of lending before you go on tangential issues dragging kenya into Ghana self-inflicted financial woes.
PRINCIPAL then interest. Not capital.
Kenya gov is paying Chinese loans of course - the only issues chinese have ceased lending to Africa.
Ghana has solvency problem. It's bankrupt...it now locked itself out of both domestic and external debt market.
Kenya is breezing through
The last infrastructure bond was oversubscribed by 153% - gov had to reject lots of money.
And kenya economy is growing - 11% in 1st Q, 5.5% in 2nd Q.

vaxx:
As for defaulting , you already defaulted, The clear case of china sanction is an evidence, You are given to 2025 to pay your debt ( capital and interest) and if not , you already know what will happen your port is a collateral , though your klepocrazy govt denied it ( but we know where there is smoke , there is fire too) so your govt can keep the lies to themselves now , reality will soon unfold them.

Your country is caused by nature, common water is lacking in some part of your country for about six years now . Even kn the rainy season, rain refused to fall there

Another shocking news, the rivers that comes from Ethiopia highlands has dried up as well, at least, it will have help your country so much at least the people sharing border with Ethiopia.


Kenya will soon borrowed to feed her citizens, it is already going to happen soon, common maize are been stolen from the farm.dont compare your cesspit with Ghana

Countries in default; Ghana, Ethiopia, Chad and Zambia.
Kenya is not in any trouble; Yes Kenya locked itself out of external commercial debt market due to high interest and forex risks;
And will focus on getting bilateral and multilateral loans...until the global recession has ended to seal any fiscal deficit;
Kenya gov is borrowing domestically without any problems - local debt is being oversubscribed and gov is rejecting money.

Next week the US is going to jack interest rates again...making things pretty bad for many countries.

We wait for two things on Ghana...external debt restructuring and then when IMF program will start. The rest are projection from a country in financial pain hoping everyone is defaulted.

You made your bed - sleep on it

vaxx:
The interest of the debt that you called cheap will later becomes too high for your poor country, making your debt becomes unmanageable . Just look at china new sanction on you , you are punished for your refusal to pay your debt on time, this is just the interest on the loan not the loan itself , ( You are paying additional millions) and you are already defaulting, how can you then pay the real loan. Kenya is already in slippery slope whereby you cannot afford the payments of your borrowed debt , so you have to take out other loans to cover them and so on. You are messed up.

Morroco does it. That is how to play in world cup. Not leak goals like Ghana sieve.

Morocco playing like real atlas mountain lions. 10 minutes to semifinal

South Africa GDP in 2010 - 410B. Then 2020 - 350B. Now 410B. I dont see what magic you'll use to turn the tide. 2030 - 410B or even less.
That simple.
Kenya 2010 - GDP 45B. Now 115B. If we add similar period forward with same dynamics - I dont see why not - Kenya GDP will be 300B.
So to be precise - 2035 - kenya and South Africa will be near equal.

And this is not a strange phenomenom - it has happened to many countries in middle class - it called middle class trap.

And you're even luckier than say Brazil whose economy was 2.6 trillion dollars in 2010 - and now it's 1.6 trillion.

IMF/WB cannot predict such

According to the concept, a country in the middle-income trap has lost its competitive edge in the export of manufactured goods due to rising wages, but is unable to keep up with more developed economies in the high-value-added market. As a result, newly industrialized economies such as South Africa and Brazil have not, for decades, left what the World Bank defines as the 'middle-income range' since their per capita gross national product has remained between $1,000 to $12,000 at constant (2011) prices.[1] They suffer from low investment, slow growth in the secondary sector of the economy, limited industrial diversification and poor labor market conditions and increasingly, aging populations.[4]

From 1960 to 2010, only 15 out of 101 middle-income economies escaped the middle income trap, including Hong Kong, Japan, Singapore, South Korea and Taiwan.[5]

jl115:
that's the IMF and yes I agree because their growth projections are the same as our treasury

Uhuru park at night - Nairobi nailing the aesthetics.


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

So you agree with World Bank not South Africa Treasury.
Can you dial back and see what they predicted kenya will be now.
They predicted kenya will be here in 2030

jl115:
Nope I don't agree

Okay let halve the "problem".
You're agreed that South Africa nominal GDP by 2025 - will be playing around 380-420B - depending on usd/rand.
GDP per capita will remain stuck - 1.5% growth rate versus 1.2% pop growth rate.

You're agreed that Kenya GDP by 2025 - will be 160-180B.

Once you accept that as baseline - we can proceed from 2025 to 2030.

Then 2030 - 2035.

jl115:
I never said it wasnt credible.... The IMF growth projections are the same as the SAn treasury

South Africa Treasury is not credible?
Kenya Treasury is not credible?
They are the most credible and make very accurate medium term projections - not wild projections
Face the reality

jl115:
I'm asking you to cite your debate with an an actual projection from a credible source... That's how debates work......you can't site any since every single organisation shows the opposite of your argument, the IMF, WB, pwc, WEC forum all clearly show SA ahead of Kenya untill at least 2080....by which time Kenya has a massive population advantage

Even in Senior High school you still openly defacate? What is wrong with Ghana

https://www.youtube.com/watch?v=TAcfOol4py4

But you draw the line of civilization when it come to defecating and dumping raw sewage on the ocean. Kenyans dress the way they want - for their own comfort & happiness - not to please Ghanians- and of all the many problems we have - It's an non issue.

vankelvin:
Its not important, I agree with you on that but it's also a fact that uncivilized people don't know how to dress

How do you measure who dress better or worse little girl. And of all the things why is that even important. Deal with serious issues like lack of sanitation in Accra...and reduce the smell. Maybe then you can not only dress better but smell better.

vankelvin:

Excuses as always
Is Kenya's more colder than South Africa or the North African countries? Even your neighbors Tanzanian's dress far better than you guys.

Obaboon,
Kenya school unrest is a problem that we are addressing as progressive nation. It's not animalistic - it's parent leaving parental responsibility to schools - schools and parents forcing kids to do rigorous studies and exam - and etc.

We already address this 1) Reducing workload 2) Removing exams & replacing them with assessment that happen throughout - no need for final do or die WASCE exam - everdyay a kid does CATs - it count for something ,And now has started to abolish boarding schools. These reforms are now going into their 10th year.

Now let move over to the Zoo - university lecturer strike is now clocking 1 yr - universities teem with cults that engage in human sacrifices - and later graduate to organized criminals that engage in kidnapping.

Your zoo will never tell kenya nothing.

Functional country whenever it faces challenges - will address challenges. A Zoo is unable to address electricity challenges going into 30yrs plus, university lectures and funding, name it, everything in Nigeria is almost broken.

obaaderemi:
You are just an animal, R I P.
Are Kenyan kids the only ones in boarding schools? Nigerian cult groups do not compare to this in any way. We are talking about kids below the age of 18 raping and killing girls in boarding schools and you are here defending it. You are stupid.
Look at the way the idiot is celebrating it as if it was something good.

Mad cow in his element.

Just30:
Debt are already being settled on time.
We are talking protecting the banking system.
Central banks don't owe debt

monkey say monkey do

Just30:
Kenya needs those culvert to create a better sewage system more than Ghana. A nonexistent drainage system is the reason why you expressway had poor workmanship

Ghana has a modern drainage system in every community that collect waste water and surface runoffs.

Why not use the fund to settle their debt on time

Just30:
The Central Bank has already created a fund for the Commercial banks which is a buffer to safeguard them from the effect.

The SEC will do something for the fund managers as well

Sounds like a strawman argument to me. You enact a straw man called "credible institution" so you dont face the reality. Projection for next decade is easy - because we already know - south africa will not grow at all or at best just slighly - while kenya will be growing fast.

jl115:
do you understand the words : "Show me a projection from a credible institution that puts Kenya ahead of the South Africa"

Ans yes the IMF growth projection is the same as our treasury projections

Most of kenya is cold; colder than West Africa sweltering heat; so expect people to dress up; And if you're dressing to impress people; or have colour for each day; then clearly your priority as country is misplaced;

All that wasted energy dressing in similar manner should be invested in digging up trenches, putting culverts and creating a modern sewage system. That is where you can show unity as people...not in dressing in similar colour in some days of the week...like some boarding school kids or goats.

In Kenya and many other countries - you dress how you want - when you want.

vankelvin:
They know nothing about dressing.
Even during their big Gospel shows or any of their awards shows you will marvel.
It's always their men in huge suits, wide shoes and dangling trousers for me .

Here in West Africa you often hear people say *dress to kill* where they dress fabulously on red carpet but I think Kenyan ladies actually act that phrase better. Their dressing can kill your eyes

Obaboon, you're back to the default mode of not thinking. The only animalistic people we know are Yoruba cults - who engage in human sacrifices and vodoo.Those are your very own people.

What exist in kenya school system is kids under intense pressure deciding to burn schools.

What exist in Nigeria are animalistic human sacrifices horrific cults.

Dont project - fix your worship of Orisa and Ogun and stupid gods

obaaderemi:
This has nothing to do with the boarding school system. This is clearly a case of the animalistic way of average little Indians.

A Ghanaian said earlier on that Kenyans are uncivilized. Now I know where all the madness and shamelessness of little Indians here stem from.

Long overdue.
Instead of useless banning of imports.
We should ban export of raw materials.
African will then force manufactures to relocate here.
This especially where African control market - Cocoa btw those four countries - that is 90 percent of the market.
They can dictate terms.
Force those big companies to come and make chocolate from West Africa - and generate more jobs.

Just30:
Do you think Nigeria should join?
Ghana has had enough of Europe's hypocrisy and at this point just giving an *F *U


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