₦airaland Forum

Just check the neighborhood , this is an informal settlement. People here built their house with their sweat without govt intervention. And most of them are informally employed .

Just check around , forget the new pitch for .
now

A newly constructed community-based astroturf at Kotobabi, a suburb of Accra.

No GDP number has yet been announced by world bank for Ghana . All this projected numbers here are from kibera central bank


But anyway this is the latest. Inflation gradually falling in Ghana while the cedis keep gaining strength . All thanks to debt restructuring .

rvp20182:
Kenya was ranked alongside Côte d’Ivoire, and DRC , whose economic growth remained resilient amid multiple global shocks.

The rest of Africa still reeling from economic meltdown.

The April 2023 World Bank Africa’s Pulse report ranked Kenya among the top-performing economies in Africa despite an uneven economic recovery experienced across the continent.

Your mumu never do, if cote d'ivoire was having such a fantastic economic development, they will not join Ghana right now seeking an IMF bailout . Right now , cote d'ivoire is seeking a 3.5 billion dollars IMF bail out.

Ghana has set a good precedence of managing debt and convincing investors to do business despite huge debt for many african nation , if we succeed by bringing paris club and china to reasonable understanding and paving reasonable way to secured the imf loan which is almost assured we are going to be emulated.

Many indebted nation in africa will follow us . There is evidence., Cote d'ivoire has already follow us. Economy growth ain't Ghana problem. Our problem is simple, we are growing the economy at a length that is not in tandem with population growth hence the debt crunch.( Because we have to keep pace with infrastructure and social development) we should be doing double digits growth like earlier 2010 or better still a reasonable 8 to 9 percent for 10 years if possible concurrently).

Anyway we are surviving with the little growth . Kenya can keep defaulting salary payment . We will not fall into such pit.

Saddamochieng00:
Why then don't you worry about your own country that has already walked past the gate of no return.

we aren't facing salary crunch in Ghana . It is only happening in kenya as far as I know .

Saddamochieng00:
That right there is the problem with all you local geniuses. You know what a county govt is right?

You are an idiot , county in this sense will passed as a state in Nigeria or a region in Ghana . That is a fair explanation

rvp2018:
1) Step 1 - we identified the problem - fired the last gov and their lackeys.
2) Step 2 - Last six months we have made HUGE reforms - that will see revenues increase to 30B from 20B dollars - plus other reforms.
3) We stopped subsidies.
4) We are reducing borrowing.
5) We cut budget by 3B dollars.
6) We inch a 4.5B dollars gov to gov Oil deal with Saudis and UAES
7) We have restored friendly relation with Western nations as we need them in short term - China is out.

The new administration has barely slept the last six months - with Ruto and his team working for 15 hours daily.

Ruto everyday fires anyone who worked for Uhuru and created the mess. KRA - revenues- is up 8% in revenue collection - and Ruto just about half way firing many people there - and elsewhere. Non-ordinary revenues - now 5,000 gov services are online in six months.

For poor GHANA - you're already BANKRUPT - but you engage in DENIAL - like the problem will go away on its own. Or youre waiting for IMF to tell you what you need to do? You dont need IMF to tell you common sense - you've messed up, clean up and dont mess again.

Dont wait for IMF to take PAINFUL decision. DO IT NOW.

First prepare to fire the current gov. If you dont prepare to become ZOO like Nigeria.

it is very clear to know the problem of your country. You can't have a better economic plan in a nation facing political instability. No economic idea can work .not even jesus christ can save you .

Your economic advisor made it clear this evidence when analyzing your problem . So simple these are the problems he identify.

1. Debt
2. Governement wastage of resources
3. Governement policies
4. Rewarding political bad behaviour.



Your economic reform is empty if there is political instability , your economic advisor made it clear .

rvp2018:
We knew we had problems.
That is why we Kicked out Uhuru and Raila - installed Ruto.
You are living in deep denial
And likely to reward the current gov
So you end up deeeeeeeper in problems.

You knew you had problem but you didn't lay out a good foundation to resolve it . You rather follow the same predecessor route . Large govt with unreasonable recruitment into govt position without considering the pulse of the nation. That is stupidity.

Sri Lanka case might be a child play comparing to your woes

rvp2018:
Dr Ndii - Kenya Chief economist explain - what I have been trying to hammer into West Africans poorly educated folks the whole morning

1) Kenya has small liquidity problem. Not solvency problem like Ghana.
2) Kenya will emerge out of debt problem in 18 months.
3) Kenya has no economic growth problem - but inclusive growth problem.
4) Ruto administration is on course to transform the economy.

kenya unlike many poor Sub Saharan Africa countries have brilliant policy wonks

https://www.youtube.com/watch?v=ok3ylbHouiE


https://www.youtube.com/watch?v=oAW9hkGVJ6s

You actually miss the vital point . he made it clear that you are in debt and the crisis started rightly from 2007 . Blaming ex president for the woes ..

So from the conclusion and summary if you are smart by half . we can derived kenya has both economic and stability problem .the current administration is really in danger and about to turn to the new srilanka .

Hence you still need to fight political problem before economic issues .the basis of your woes is political instability

Just40:
Naa .... The days of Ghana doing that are over.

We have no free money to give you Kenya like we did in the 50s and 60s

. No Free meal again .

Just40:
How Kenya ended up in this mess

It spent the last 7 years borrowing to pay salaries just like I told the dumb Kenyans here 5 years ago


It is a no brainer that you'll have to borrow to pay salaries when 110% of revenue went to just debt servicing and wages as far back as 2016

I don't think tax Enough can solve the problem. They have increased tax collection , they have remove subsidy , they still end up broke .

Just40:
The Sri Lanka path is paved with roses for the politicians but a thorn wood path for the citizenry to get wrecked

there is no way kenya will continue withholding civil servant salaries and will not end up in Sri Lankan way. It is impossible. So as a co africa member , We need a paybill number so that we can contribute cash for the civil servants salaries in kenya . Be your brother's keeper .

Their currency is already feeling the heat , falling down like an old prostitute boobs out of night occupation

rvp20182:
We wont join Ghana in the miserable club.
Go to bed - your puny brain is overheating.

you are already far worse than Ghana. Joining Ghana will be a privileged

rvp20182:
You wait until Codeine has subsided in your bloodstream - and you'll see is very illustrious careeer. The stuff he has written are all over.

Only a Ghana slowpoke would question an Ivy League proffesor of Economics.

That kind of anti-intellectualism is either borne out of total madness or drug abuse or poor education.

and you are unable to show me a single published work he has done before. You are the idiot with a tiny brain here .

You cant even face my little bro here on a one and one debate . He will put you into size

GeneralDae:
I don't know why he takes that Steve Hanke of a guy so seriously.

someone that is unknown both in academic or financial world . He knows himself the guy doesn't have a reputation but because the guy support his own kind of ego , he decide to believe him. Two ignorance monkey

rvp20182:
Did you really understand what Dr Ndii is saying there or the English is too much for your puny brain.
He is saying what I have been saying.
That there was cash crunch...as maturities for debt had bunched up...
That is temporary problem.
Of course Kenya has to get out of spending 60% of revenue in debt servicing.
We have to go back to below 33%

Again nobody denies kenya macro-economics are not SOUND.

Ruto is the president for exactly that reason - he told kenyans - we were going bankrupt like GHANA - unless we change.

So we are dealing with WELL KNOWN PROBLEM - and we have solution for it - that excludes defaulting like Ghana morons.

You are the nincompoop arguing the obvious here . You failed to agree you can't pay salary , you were arguing otherwise not until I bombard you with lot of evidence from your fellow countrymen , you are the Idiot with disjointed brain .


It is either you default on your debt or you stop paying salaries that is how bad your inept govt has become . You pick the latter zombie

rvp20182:
https://en.wikipedia.org/wiki/Steve_Hanke

After the codeine has worn off.

lol...I am also on Wikipedia . Show me his literature that is what I ask you to do not his biography . You are even more stupid showing me wikipedia page of him .


Didn't he has published work

rvp20182:
Ivy league proffesor must publish regularly or they lose their tenure.

Dont attack the messenger....your country is BROKE.

All credit agencies have it at D - DEFAULT

give me one of his literature or remain the monkey that you were

rvp20182:
Are you so mentally disabled you cannot GOOGLE.

You are the monkey here. You know indeed there is nothing of such existing anywhere so you want me to spoon-feed you with unknown existing material.


The guy is unknown and if you are confidence that he is known. Show us any of his financial literature

rvp20182:
Are you so mentally disabled you cannot GOOGLE.

it is because you are so stupid and knows very well nothing of such exist .


You are the one mentally handicapped here

rvp20182:
Proffesor of Economic in John Hopkins - IVY league - one best universities in the world is a NOBODY. Ghana madness.

refer me to any of his literature

rvp20182:
That is politics. Azimio were trying to play cheap propaganda. And gov just told them they left empty coffers.

What is not in dispute is that your employees and you need now almost double the cedis to survive.

You had salaries delays as early as Feb 2022

just shut up and bury your head in shame

rvp20182:
The latest from Steve Hanke

#GhanaWatch: Under Pres. Akufo-Addo, economic freedom has deteriorated. As a result, GDP per capita growth has crashed. Ghana should turn to the Singapore Strategy (stable money, NO FOREIGN AID, protection of private property & a small efficient govt) instead of the IMF.

Find kenya in this list of shame

I have ask you to tell me who knows him . He is nobody .show me any research paper he has written before . We are not handicapped like kenya

rvp20182:
Ghana is beyond inept - it bankrupt.
Inflation is at 90%
It with Zimbwabwe.
That mean your gov is printing money to pay your with useless cedis.

kenya for now it is far worse . You cant pay salary . And the only blame for that by your govt is the last regime . What an inept govt

rvp20182:
You're NOT putting evidence of teachers complaining about pay.
I know 20 counties who haven't received that 60B KES due.
This very normal in Kenya.
This happen every year.
And once in while we have cash crunch - as we are still functional country where gov pays salaries on 23rd latest.
Way before the end of the month.

In some countries like Ghana and Nigeria - I am sure salary delays like this are NOT NEWS anymore.

Google.

Ghana is not an inept country like kenya . I have thrown too much evidence for someone with half decent brain to understand but a nincompoop like you will still argue because it brushes your ego. Citizens of a broke and hungry country.

This is an evidence coming from the economic advisers of your country . It is not about I know , it is about what is the real fact.

You can never know the financial situation of your country better than him . He admit you are broke and can't pay salaries .

rvp20182:
You dont become first and echo.
Go back to school.
Kenya teachers have one of strong unions...union with 350,000 teachers would have cried murder.
Teacher in kenya get paid before the 20th.
Of course the security force got paid.
That is already 500,000 out of 700,000

And parliament were paid.

like I said yesterday , you need free education. Your teacher were the first set of civil servant to complain about salary delay if that will make you familiar with the word echoed ( giving sound ) it is a literary meaning to what your civil servant did.


Your civil servant are not receiving their salaries . It is fact from your govt officials and not the unexisting madness you are trying to portray . Idiot

Below is the evidence of five months salary delay

rvp20182:
Usual Ghana madness.
Kenya gov has 700,000 employees consisting of half - 350,000 teachers - none missed their salary - they got it weeks ago.
Next is security forces - army, police and related - about 125,000.
So far I have only see on gov agencies - election body - that had their salary delayed.
And I hear 20 counties complaining

Go to Twitter and try find kenyan complaining about missing salaries.

Your teacher were the first to echoed salary delay before all other civil servant begin to shout on top of their roof . They can't stomach it again . In some counties , workers are even advice to stop coming to works . That is how bad the situation has become .

Even your govt are blaming the last regime for the main problem and the reason for this madness . Your govt is clueless on what to do.


This is coming from your officials

rvp20182:
A week delay in some salaries is nothing compared to Nigeria - a zoo - where people can go for years without salary or pension.

shut up . There is nothing like a week delay here. It is a complete 5months delay in salary payment .

rvp20182:
You're only broke when you default on your debt.

What kind of education did you receive in Ghana or Nigeria?

Dictionary - BANKRUTPT- (of a person or organization) declared in law as unable to pay their debts.

Kenya paid it's debts.

If we stop paying debt - we would have join the list of shame - that now has Ghana, Zambia, Ethiopia, Chad, Mali and who else?

The only country that is broke here is kenya . You are the only country unable to pay your civil servant . The only country struggling to access dollar . not Ghana or Nigeria .

You have two options to pick says by your economic advisers . It is either you stop paying debt or you stop paying salaries . You choose the later . Very inept approach . Killing your fellow country men . Now you are not different from your neighbor somalia .

rvp20182:
No salaries were withdrewn (whatever in English or Twi that supposed to mean). Some salaries were delayed last week and will be paid next week. Do not think every country is run by morons like Ghana.

idiot , your govt is broke , no coins to pay your workers idiot . Stop projecting what is not going to happen. You are broke and there is virtually nothing left in your pocket as a nation of 54 million people . Is that too hard to understand . Maybe you need swahili meaning of broke or empty pocket . Over five months salary is owned by your inept govt. You idiot.


Everything is finished says one of your govt officials .

rvp2018:
You didnt default on treasury bills - you did on treasury bonds.
There is no short cut to debt - except paying for it.
However painful - it must be paid.
You default - you punish creditors - they will not forget it.
You try to weather the storm - and soon you're back borrowing.

By the time youre nailing IMF program - it will be 2024 or 2025 - depending on how external debt restructure goes

That debt restructure will be insured by IMF - who will demand PAINFUL reforms - including MASSIVE retrenchement (so you're wasting time now trying to save jobs), massive budget cuts.

You Ghanians are the most stupid people in Africa with Zambia.

You're postponing problems hoping they will go away - instead of tackling them.

IMF will soon be there to beat sense into your thick heads.

But withdrawing salary is even more deadly and stupid approach to solve empty pulse . You have nothing left yes we know, but you can't kill the elephant for the purpose of having goat soup . It doesn't works that way . Your civil servant are the anchor of your economy . By withdrawing salaries from your formal sector you have indirectly handicapped the informal sector as well. Simply because it is what is available in the pulse of civil servant that will be spread across the country . Doubling their problem . Money doesn't fall from heaven . IMF is a very good option , they will come and introduce financial stability in the country . You are also postponing salary too. for the fact that you are not paying now , you will still pay later but by then , you will have sunk deeper in poverty. Missing the millinium goals development agenda set by UNO. Go check Ghana figures on the sheet


Your country has lost it all , your domestic market cant even trust you.

GeneralDae:
But if you default and do local debt restructuring, then there would be haircuts which would affect the big private sector players and which in turn has its effects.

When you default on your external debts, there becomes the problem of trust. Trust is important in all business deals. Would you be trusted to get good loans in the future? That's the thing.

On the other hand, if you try to plug loopholes or reduce the size of your civil service especially non productive civil service workers, then you can manage the situation.

The only problem is that if your civil service is large and forms the core of your middle class then you have a problem there as well.

None of those choices are easy to be honest.

Then government, like a parent, should tell you that indeed money is scarce then give you hope by telling you the initiatives they are undertaking to arrest the situation. Which Ghana has done. We will delay our debt service for a limited now to address the situation. Because basic and human consumption capital are never an option to consider ( I mean the civil govt salary , the free education service , the free feeding and boarding will never be touched . They are very paramount ).but delaying debt payment can come. It is prudent , because we will soon be tapping loan from IMF which will secure our trust back in the financial market

The recent evidence of over subscribing on our treasure bill has proving the domestic market hasnt lost hope entirely on us . Some country like kenya can't even raised Enough fund thru treasure bill

But if tomorrow come and we could wake up and hear they have hired more govt commissioner and increased State House budget for instant prayers like kenya did then our problem become very horrible . And it shows we don't have competent govt