₦airaland Forum

Just40:
I like the way you deflect

Soon you'll be hiring a lorry to carry your money. Don't think it's a joke.

Your currency at the moment is worthless.

Just40:
Actually I have one of the strongest currencies on the continent... But as usual I don't expect you to know that....

If you understand economics you will no that taking an exchange rate beating allows your to adjust... While it affect your debt, the exchange rate absorbing the shocks permit your economic growth from taking the hit... With an economics growth, your economy is more than capable of paying the debt.

This is what the Kenyan economy couldn't do hence in an attempt to keep managing it currency to bring some level of trust to it economy and prevent social collapse, it real growth took a beating and it ended up at IMF last year after so many years of defaulting on debt.

Zimbabwe man, keep wailing. This is 2022 IMF report. Just like WB 104% speculated figure, they are not mincing any words.

https://www.imf.org/en/Countries/GHA/ghana-qandas#:~:text=Back%20to%20Top-,Why%20is%20Ghana%20requesting%20an%20IMF%20program%3F,to%2080%20percent%20of%20GDP.

https://www.imf.org/en/Countries/GHA/ghana-qandas#:~:text=Back%20to%20Top-,Why%20is%20Ghana%20requesting%20an%20IMF%20program%3F,to%2080%20percent%20of%20GDP.

Your zoo is a disgrace to wakanda fraternity. You should give that gold to hardworking nations like Kenya and watch the pace. You can't be resource sufficient and wallow in debt at the same time.

Just40:
hellow venezuelan man


As you can see, this is 2022 and it is back down to 68%.... I know the reality hurts you but it still remain the reality

This was publish just this October....
Cry more, it won't reduce your country debt from 74% which has driven you to the IMF

Zimbabwe man, calling me other names will not pull you out from Zimbabwe syndrome.
Try to be original.

World bank are not fools to project your Debt to gdp at 104% next year.

https://www.businessghana.com/site/news/business/271892/World-Bank-classifies-Ghana-as-high-debt-distressed-country-Debt-to-GDP-to-hit-104-per-cent#:~:text=The%20World%20Bank%20has%20classified,by%20the%20end%20of%202022.

Just40:
You forgot that I was the one who first posted the debt history of both countries before you had to enter your denial mode


Typical kenyan

I posted IMF lending history. You posted a blog that captured tiny part of debt history.

If you want me to repost, I will do it.

Just40:
You're the one dealing with a Zimbabwe economy that makes Kenyans poor every year without any transformation in the living conditions of Kenyans over the last 10 years.

You're the ones who need wheelbarrows to go and buy just bread and that is if you're lucky to find bread on the shelf.

When a Ghanaian needs bread, he needs just 5 cedis to get a decent 500g bread

Zimbabwe man, you have the weakest currency on planet Earth. If you understand economics very well, you know what is about to hit you.

Don't project your flaws to thriving nations like Kenya. Wait for Nigeria to re-colonize and bring you back on track.

samorobo:
Lol 50% of your taxes is stolen ,stop y trying to save face.
Wonder no more why 90% of all uhuru built during his tenure was from loan from china,imf and more recently Japan. Surely this wouldn’t be happening if 80% of your taxes was available.

Are you always this emotional or you're in your menses?

samorobo:
Please shut up and paint your nails. Dabbling into matters like this makes you sound stupid ret@rded.

Matters like what, Common knowledge? Like 1+ 3 = 4? Or just getting info and paste here?

Kid, you're way out of the picture when brain capacity is something to go by. Go and brush your teeth cos it's smelling stupidity.

Just40:
Expectations and reality ain't the same...



It has already dropped from 78% to 68%
It will drop even further by next year as the economy has perform far better than expected.


Your country debt to GDP currently stand at 74% with foreign debt accounting for 51% of all debt.

Your constant default on debt obligation is what took you to the IMF

Zimbabwe man, you can only lie to your useless pigmies.
In 2019, ghana was doing 68%. In 2021, you're doing 76%, and currently; 2022, you're at a whopping 86%. With the weakest currency in the world.

Just40:
I know economic is not your strong suit...

First of all, Kenya has drawn more money from IMF than Ghana
Kenya has been to the IMF 24 times
Kenya has more outstanding iMF debt to the tune of 6.e billion dollars

I gave you Kenyan lending history vs ghana lending history from IMF page, as usual, you sneaked away from the topic.
Ghana is the grandmaster of debt.

Just40:
I know how you guys blindly deny

Go and deal with your weak Zimbabwe-like currency.
Prepare to ferry cedis on a pickup to buy a loaf of bread.
Your zoo will be colonized by Nigeria for redemption. I foresee that.
Once you sink into that trap, there is no going back. Ask Zimbabweans

Just40:
Keep crying

How is the IMF program going?

68% as at July in the latest October Economic review

Zimbabwe man, your debt to gdp is expected to hit 104% next year.

~ world bank

Rvp... As you thought you've seen it all.

BooM!!!

Ghana debt to gdp to hit 104%

This is the latest WB data.

https://www.businessghana.com/site/news/business/271892/World-Bank-classifies-Ghana-as-high-debt-distressed-country-Debt-to-GDP-to-hit-104-per-cent#:~:text=The%20World%20Bank%20has%20classified,by%20the%20end%20of%202022.

Just40:
Kenya entered the Zimbabwe mode 4 years ago when it defaulted on it loan obligations and now under 6 billion IMF double package.

Ghana has almost already whethered it storm with debt to GDP at 68% without at default.

Your debt to gdp is 86%

Zimbabwe man.

Just40:
crazy boy...
Debt default ain't possible here ..... Don't think every economy is weak like the Kenyan economy that has been defaulting on it debt obligation leading to several restructuring to make it easier for you to pay..

Even after that, you ended up with two IMF program to the tune of almost 6 billion dollars.
How is that working out? We've not even began to talk about it ramifications

The emboldened are lies. Don't cry. We gave you correct information. Don't be desperate to post rumours.

Just40:
foreign debt constitute less than 45% of our total debt.

Fortunately for Ghana, a default like Kenyan has had over the last four years which has led to constant restructuring of your debt is not possible here.
The kind that has led you into two IMF bailout in the space of just 12 months without which your peanut economy would have cascaded Into Bater trading.

Over the cause of 6 months, 3 billion dollars has dropped into Ghanaian coffers which just proceeds from oil and cocoa that has not yet been invested .. that alone is enough to pay Ghana's debt interest and amortization..

Your country does not have that so it is currently relying on IMF 2.3 billion dollars as budget support and wage payment while it's forfill it obligation to it debt providers using 74% of revenue.
Next year will even be worse for you

Wrong, foreign debt constitutes 86% of your debt.

You have drawn more money from the IMF than Kenya.

You have more outstanding IMF debt as compared to Kenya.

You have gold, and that makes me wonder how you guys manage your zoo!!

Just40:
I'm focused on the real living conditions of the citizens since that is what indicates the real power of the economy.

What can of life an economy that only connect 50% of it population to electricity in the 21st century provide for it people.?
What kind of life does it provide when 45% of it people sleep in dusty shacks?
What life does it provide when 25% do open defecation?



Ghana debt to GDP is at a lower 68% which is lower than that of Kenya.
Ghana Cedi is a free floating currency which makes it better at insulating the economy especially for a going export dependent economy. T[b]he Kenyan economy is a heavily import dependent one with a managed currency which can't has failed at protecting your economy hence the 24 IMF bailout[/b] without it, there will be a greater starvation disaster on your hand than you currently have because then Kenyan populis are too lazy to be able to weather that base on pure economic engagement.

Zimbabwe man. How do you survive with cedis

rvp2018:
Now all the money is on her to go Zim way.

From Twitter.
Ghana's economy is going down the tubes. Since January 1st, 2020, the cedi has depreciated ∼45% against the USD. According to Bloomberg, Ghana is the SECOND most likely country to default on its debt.

Their bonds are now rated JUNK ->Ghana's risk of default increases as Moody downgrades economy to Caa2.

>>>>However painful, we've got to accept the proposed Domestic Debt Restructuring (DDR) which is simply Cedi Debt default by Ghana Govt.
Without the DDR we cannot reach a deal with the IMF. Then, the future would be really dark.

This a serious economic crisis. I don't see any comeback soon. .,

Just read that their currency has been in depreciation mode for a whopping 15 weeks non-stop, and still no signs of relief.

Also, the world's worst-performing currency at the moment, slightly ahead of Sri Lanka's rupee.

Lemme not laugh ... But no, oooh nooo... Pwahahahhaaaaaaàa .... I can't.

rvp2018:
Ghana base rate is 25% - somethings are hard to believe In August, Ghana's consumer price inflation reached its highest level since 2001, accelerating to 33.9% year-on-year from 31.7% in July. Cedis has depreciated by 40% against the dollar - that mean nominal GDP has almost halved to 40B DOLLARS and GDP per capita is now on verge of going to LDC

Ghana Hikes Rates to Highest Level Since 2017 on Inflation Risks
Bank raises rate by 250 bps to 24.5%; survey est. was 23.5%
Inflation in Ghana accelerating at fastest pace in two decades

And they havent revolted

These Ghanians are the most resilient human on earth - suffering and smillings.

That is terrible.

The next Zimbabwe in making.

GeneralDae2:
Agreed but USA is still not a good model to look up to in terms of debts because they still have it easier than others in terms of debt repayment. Others would have the problem of not being able to print some additional dollars as a last measure.

Correct! Although not the bone of contention, you have just nailed my point.

If you have payment means, why should you criticize debt?
Also, if the debt is catering to indispensable needs, why should you demonize it?

And yes, USA is the best of the yardstick.

USA just like any other country still faces the challenge of printing BANKNOTES. Germany did the same during Hitler's regime, and what happened to Germany's currency afterward?

GeneralDae2:
USA can easily print dollars. International debts are usually paid in dollars.

I know the federal reserve can print dollars and pay off debts. One thing you should take note of is that any amount printed outside the outcome of value creation is worthless. Ask yourself why USA is yet to repay $1000billions to China. Fear of DOLLAR SLUMP! Consequences? High inflation, economic meltdown, currency depreciation, and whatnot. This attempt will sink the nation further into an economic crisis.

The value of money is how much people are willing to give for it. It doesn't matter whether you have actual influence over it or not.

obaaderemi:
You are a monkey. You finance your budget with borrowing. We've pointed this out severally.

As long as it finances integral issues; I don't see any wrong in borrowing.
USA is many years ahead of any African country, but it owes china trillions of dollars_ $1000 billion+.

Balogunodua:
Reason for low tax collection in Nigeria is because the government have refused to tax businesses, especially the informal sector. But the federal government is already planning to expand our tax net, and there was improvement since 2021.

You can't lie when you're obtuse. Gain knowledge first.

"According to the Small & Medium Enterprises Development Agency of Nigeria (SMEDAN)’s MSME National Survey Report issued July 2019, total MSMEs in Nigeria were estimated at about 41.5 million, with Lagos constituting the bulk of the quoted number for a state (about 11.5%). The MSMEs, which contribute 48% of Nigeria’s GDP, generated over 59 million jobs as at December 2017, with 2.9 million jobs created by enterprises mainly in the education sector. MSMEs are categorized according to the number of assets owned by the business excluding land and buildings (R) and number of employees (E) per the National Bureau of Statistics; however, this differs from the categorization for tax by the tax authorities:

micro (R:5 million, E:10 persons);
small (R:5 to less than 50 million, E: 10–49 persons);
medium (R:50 to less than 500 million, E:50–199 persons)."
Nigeria has consistently led the continent in the ratio of informal sector contribution to total GDP since 2010. The government, which has continually enabled the sector via specific provisions in the National Tax Policy, 2017 (NTP) and Finance Act, 2019, has enlisted supporting MSMEs as a strategic objective with incentives on income tax and value-added tax (VAT) obligations.

Wuoche:
I accepted Ruto's Presidency long time ago. But please, don't try to give him credit on someone's else effort. When Uhuru and Safaricom was negotiating Ethiopia's entry, Ruto was more of an opposition than the government. The guy opposed everything Uhuru tried to do just to make himself relevant. There was a point his allies (Mudavadi) said that Uhuru should stop building roads cause people can't eat roads. I'm sure the day that road will be launched you will be here again praising Ruto.

My humble request to you is this. Just wait for Ruto to launch his own projects and start praising him, in fact I'll join you all in praising him.

I get you, don't worry.

What I posted is not entirely his thing. But the license negotiation will see Safaricom's revenue exponential growth! Which is part and parcel of his achievement.

So relax.

Balogunodua:
Nigerians are way more productively than your shithole citizens get thaf into your skull.

Reason for low tax collection in Nigeria is because the government have refused to tax businesses, especially the informal sector. But the federal government is already planning to expand our tax net, and there was improvement since 2021.

Who fooled you. Out of a whopping 230m Nigerians, 140M are slum dwellers - extremely poor.
In 2019, you had only 27M out of 210M being productive. That is waaay below average.

Wuoche:
Why do you guys like giving Ruto credits which are not his? The guy is barely a month since he became the president and with that frame time, he can't negotiate any deal that it's results can be seen within 24 days. Just to be honest with you, right now Ruto is still enjoying the fruits of UHURU.

What I'm talking about rotates within ruto's ideals.

I know you won't understand why I'm hyping him. Here is the case: Ruto is OUR president. Yes, he's already our father; Not the father of kalenjins but the whole of Kenya.
If we keep displaying his flaws to strangers, that will be an own goal. I'm here to defend even Kenyan - extremists || thieves murderous and whatnot... || As long as they carry the image of Kenya. That does not mean I won't criticize him in our local spheres.

Thanks.

GeneralDae2:
The main reason our taxes are low is that Agriculture is exempt from VAT and has been left 90% informal. A lot of our agricultural produce are equally shared in Niger and Chad and due to lack of advanced logistic infrastructure, ..

Wrong, or outrightly lame excuse.

If you start taxing "some of " your agricultural products, then you're bound to fail. It's the same as subsidizing agricultural Output and overlooking the inputs, wrong strategy!

If you asked me, I would say you have huge unproductive population that's why on overage, your VAT outside Oil is below average.

Had underrated this guy, Ruto. But as things are, he's a strategist. A performer.


Safaricom has officially penetrated the Ethiopian market. That is a great move!!

https://www.reuters.com/business/media-telecom/kenyas-safaricom-launches-network-ethiopia-first-private-operator-2022-10-06/

samorobo:
We are talking NNPC vs your use flying coffin. The former which is Africa’s largest retailer keeps making profit,the letter is just a hopeless hot mess waiting to be dissolved. Stop wasting your money and end that dying venture. Put it to rest

Why are you comparing a banana with a pineapple, are they really the same? Nope.

Try to think.

This building will be done this year.

It's so massive.

vankelvin:
Are you sure you want to compare the number of petrol service stations in Kenya to that of Nigeria?

Yoh, Rvp has just listed 4,097 stations for you, and you're still bringing 2000 Ghanaian dwarf stations?

Wuoche:
Uhuru's projects.

True.

obaaderemi:
His young life has been raped and destroyed on nairaland. He's a ragged football everyone has kicked around, including one of his countrymen. I only pity his future if he has any left.

If you want to troll me, come and QUOTE me directly. Don't be a sissy.

Mhhh... You sound like the famous duplicater of people's punchline on this platform. From just simple peruse, I've established that Nairobiwalker bullyragged you. You had to copy every creative punchline he used to bombard you with, to stay relevant. Thus say, you are more likely the same as the useless twerp I have beaten here.