₦airaland Forum

rvp2018:
Many people are seeing Nairobi preminence as Africa capital


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

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 .

rvp2018:
Stop gossiping. It's not manly. Learn to stand on your ground. Your argument should stand on their own feet. You dont need a mad man to prop you. It wont help you case. It makes it even more dire.

And both of you should learn some English. It's hard enough following the messed-up logic.

swallow your pill of ignorance , you are not making sense . You knows nothing .

Just30:


He's learning by each comment

I can't just imagine , he is written my word back to me as if he is making sense . I just lectured him he can't get the dollar anywhere in Nairobi for 123 because that is the benchmark price and business will have to make profits . Instead of him to swallow his pill of ignorance , he prefer to paraphrase my words and wrote it back to me . I just don't get what the understanding mean . Very daft and stupid of him.

rvp2018:
First Learn English and I may understand what you're saying.
Forex are sold like tomatos in Makola market by women there while trying to turn some marginal profit.
The sellers buy low from farmers and try to sell high to customers.

The price is really not constant; you negotiate based on how much you're buying or selling.

To get the prevailing exchange rate - is basically the mean of buys and sells.

If you're selling dollars - your bank will buy low. If you are buying - they will sell high. The difference is their profit.

The exchange rate is generally indicative of mean of buys and sells but everyone buys at almost different exchange rate.

indeed you are a poor student .

rvp2018:
Benchmark or inter-bank rate is still a median of what Central bank is willing to buy and sell;
Central Bank also are in forex business to make profit;
At least Kenya one - and they declare profit - and pay Kenya gov.

what you can buy with your money is what give it value. Currency are made up from your available pulse . How much is presently in cbk account.

Cbk make up the numbers based on what your economy can sustain and bank also sell with the amount of the dollar they hold. That is why banks and forex all have slightly different numbers for different reasons even though the available cbk price is 123. Banks and forex will not have the same price. I have school you freely .

rvp2018:
Everyone dealing with forex understand low and highs - and median is the exchange rate;

If it's Makola market - we sample all forex exchange in that backstreet; get their lows - buy dollars cheaply - sell dollars high - and makola exchange rate is the median.

If you go to your bank - you will see sells and buys rate - the difference is their profit margin - the exchange rate is low+high divided by 2.

Is there a Ghanian with at least some decent education?

this is the illiteracy I am taking about ? A stupid individual like you is written my word back to me as if he is making sense , you are only repeating the same thing I let you know. Fool. There is a benchmark price that your national banks value your currency when compared with dollars ( that is the amount she will sell it to the banks or other regulated agency ) and your banks will make a profit margin when trading it hence the reason you can't get it 123 the same price your national bank will sell it to your bank.


You monkey

rvp2018:
Verbiage.
Banks and Forex buy low and sell high.
The exchange rate is median.

i understand this stuff better than
your idiot self , it is what I do almost every week. The 123 is the benchmark standard from your national bank( cbk) stupid individual like you can't get it like that in the open market because of the profit margin , you will be getting it averagely at 127 if not more than that.

rvp2018:
What do they teach you in Ghana school;
Not English? Not logic? Not Economics.
Why are exactly are spending money to finance an education system that output idiots like you.
The exchange rate is median btw buys and sells;

Kenya Shilling Slides To Ksh.123 Mark Against The U.S Dollar
https://www.citizen.digital/business/kenya-shilling-slides-to-ksh123-mark-against-the-us-dollar-n311267

Aren't you an example of Kenya polluted educational system? Haven't we see the level of illiteracy in full display , you are wanting in common comprehension . How much more basic fact . The 123 is the benchmark price , that is how it has slides to. You will not get it in the market like that you monkey . The least you will be getting is 127.

rvp2018:
Again, you're wasting your insults; they have zero effect on me;
I only flow with facts.
Kshs is 123.
Ghana fundamentals remain messed.
It has defaulted already on local debt - and we are waiting for eurobond default;
IMF and diaspora dollars is giving Cedis a deadcat bounced.
Fundamentally - Ghana is still rated at default
https://www.fitchratings.com/research/sovereigns/fitch-downgrades-ghana-ltlc-idr-to-c-08-12-2022

What we are watching for in Q1 2023


Fitch Ratings - Hong Kong - 08 Dec 2022: Fitch Ratings has downgraded Ghana's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds issued domestically have also been downgraded to 'C' from 'CC'. Fitch has affirmed Ghana's Long-Term Foreign-Currency IDR at 'CC'. Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below.

A full list of rating actions is at the end of this rating action commentary.


KEY RATING DRIVERS
LC Debt Restructuring Announced: The downgrade of Ghana's follows the government's announcement of a formal invitation to exchange local-currency debt. Fitch deems this to be the initiation of a default-like process, consistent with a 'C' rating.

Invitation to Exchange LC Debt: On 5 December, the government of Ghana published an Exchange Memorandum inviting eligible holders of local-currency domestic debt to exchange their existing bonds for new bonds. These new bonds will pay significantly lower coupons, with 0% coupon in 2023, rising to 5% in 2024 and to 10% from 2025 onwards, and effectively extend maturities for eligible outstanding local-currency domestic debt. The restructuring comes in the context of efforts to secure IMF support and a local-currency restructuring seems to constitute a necessary prior action.

LC Exchange Qualifies as DDE: In Fitch's view, the debt exchange constitutes a distressed debt exchange under the agency's criteria, given that it entails a material reduction in terms and is needed to avoid an outright default. Fitch will downgrade the LTLC IDR to 'RD' after completion of the debt exchange, which the government currently expects on 20 December. The IDR could then be upgraded to a rating appropriate for Ghana's prospects on a forward-looking basis, but the LTLC IDR would be constrained by the fact that the foreign-currency debt situation would still need to be cleared.

Foreign-Currency Debt Not Yet Affected: The government also announced that it is preparing a restructuring of its external debt to restore debt sustainability. Fitch downgraded Ghana's rating to 'CC' on 23 September to indicate the increasing likelihood of a default event as a result of these pressures and in anticipation that an IMF-supported macroeconomic reform programme would require some form of debt restructuring. Ghana's already-high debt servicing burden and constrained access to finance both worsened during the successive shocks of the coronavirus pandemic and the Ukraine-Russia war, leading the government to seek IMF support in July 2022.

Partially Guaranteed Note Expected to Be Excluded: We have affirmed the rating on Ghana's partially guaranteed notes backed by the World Bank's International Development Association as the notes are expected to be excluded from an external debt restructuring even if other Eurobonds are included.


ESG - Governance: Ghana has an ESG Relevance Score (RS) of '5' for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. Theses scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in our proprietary Sovereign Rating Model. Ghana has a medium WBGI ranking at 50.8 reflecting a recent track record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption.

ESG - Creditor Rights: Ghana has an ESG Relevance Score (RS) of 5 for Creditor Rights as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The current rating action reflects Fitch's view that a default event is imminent.


RATING SENSITIVITIES
Factors that could, individually or collectively, lead to negative rating action/downgrade:
-Completion of the proposed debt local-currency exchange would lead to a downgrade of Ghana's LTLC IDR to 'RD'.

- Failure to make scheduled coupon or maturity payments on Ghana's foreign-currency bonds within the grace period would lead to a downgrade of Ghana's LTFC IDR to 'RD'.

- Signs that the partially guaranteed notes might be included in a restructuring could lead to a downgrade of their rating.


Factors that could, individually or collectively, lead to positive rating action/upgrade:
- Withdrawal of the local-currency debt exchange offer and payment of upcoming coupon payments within stipulated grace periods.

- Evidence that foreign-currency debt would be excluded from the overall effort to address Ghana's debt pressure could lead to an upgrade of the LTFC IDR and affected issuances.

like I said your shilling is 127 against dollar , nobody buys it 123 you lier.


More goggle and paste pls .

rvp2018:
Deadcat bounce changes nothing in bankrupt Ghana. Just wait for January. The fundementals are messed up.

just shut up. Cry for the fall of shillings.. your currency is struggling over dollar now .127 per dollar , that is so inept of ruto adminstration.

rvp2018:
Zambia finally found themselves a leader - they might have left broke Ghana in the misery corner forever


Hakainde Hichilema
@HHichilema
Political and economic stability coupled with rule of law, attracts investment and creates jobs.

Your worries should be about your struggling country ( righ now shilling is struggling against the dollar . Nearly 127 against the dollar for buying , the ruto adminstration keeps not to get his head over the dollar rise. You may be having Uganda shillings soon, so adjust your paper denomination to tolerate your poor currency. Just like how Ghanaian predicted , our currency has completely recover all her lost, inflation is gradually fading off. Economy management Wise, Ghana is ahead of any East africa

The world want a weaker Ghana Cedi. They don’t want a strong currency. A strong currency from Africa is a threat to their world domination.

Let’s ride on.

rvp2018:
Any particular good reason why MorningStar is unfair to Ghana?

now that I school you that Google exchange rate isn't gotten from blomberg but morningstar,it seems you want to learn. Morningstar deals with wholesale value, they work with average cost not actual cost . it is just an approximation. Banks and regulated bureau d change are the only institution that can gives something close to what the public accept . I.e from the national bank like Bank of Ghana

rvp2018:
Exchange rate is mid way. Reduce the insults. You're wasting your anger. I only get swayed by facts

no, stupidity humbles you not fact . You are not interested in fact

Just30:
This is Bloomberg yesterday

the poor boys knows nothing. Even google picked it's data from morningstar not bloomberg as he try to insinuate.he doesn't take his time to learn

Just30:
The bureaus are out of Cedis as no one wants to hold dollars at this point.

Those who are still holding will make more losses by January

some of them initially buy it too costly, like 13 or 14 cedis , you don't expect them to sell it below cost price .they will rather hoard on to it .

rvp2018:
Google uses the likes of Bloomerg which track exchange rate of many countries.
In any case why are jittery - if cedis fall is sustainable - then it will firm up.

You are stupid , you don't even know where google check its exchange rate . The data is taking from morningstar not bloomberg as you stupidly think. It is simply mid day rate( half way between the buyer and the seller) no profit margin is factor. If you want to cross check on exchange rate, use banks and regulated bureau d change .

rvp2018:
I have been using google - which sources it data from reputable source.
Your anger is misplaced.
And quite laughable.

You and madman need rehab.

for the fact that you are using Google check against bank of Ghana rate shows how stupid you can be . Nobody makes transaction using Google check. Transaction are done via banks or interbank which is controlled by bank of Ghana

Just30:
New BOG target for end of year is 5.6.

Something extremely strange is happening

the black market trader are even afraid to sell the dollar in their hands , they are only buying at 11 cedis. They think hoarding on to the dollar for long is good since it will soon rise again.many of them too have run into lost since they buy the dollar initially for 13 cedis so selling it far below that price is just impossible.

kkins25:
Jesus, E still dey drop? there goes my plans for laptop

lol..... There is a high restrict foreign exchange support to some essential commodities like petroleum products, as well as medical and pharmaceutical products now . Bank of Ghana is not providing any financial support for it anymore. It is the main reason for the dollar crash and couple with the prudent management of liquidity in the financial system.

You can always get a cheaper laptop in circle

rvp2018:
Not so fast - you've recovered back to Sept 2022 - but this could be either leading or lagging indicator.

I provided bank of Ghana exchange rate , you counter back with the single google check. How mad can you be .... The bank of Ghana is the benchmark for any forex in Ghana . I have always told you to be watchful of your reference. Getting information from untrusted source is same as producing fake evidence .

The regulatory rules against the black market is on track.

The cedis has completely regain all its 53 percent lost . And the Inflation is cracking down naturally. Some month ago, the cedis was the weakest currency in the world. It is now the highest performing currency now.

QuietMynd:
Once money is exchanging hands for the transferring of people from one place to another "it is trafficking"

You are lying..... This is the definition of trafficking below. Nothing illustrates it has anything to do with what you mean.

"Human Trafficking is the recruitment, transportation, transfer, harbouring or receipt of people through force, fraud or deception, with the aim of exploiting them for profit"". .According to the UNO

rvp2018:
You're retarded. Ghana requires 10 times more doctors.

The doctor-patient ratio is alarming (1:10,450 versus 1:5,000 recommended by the Commonwealth, and 1:1,320 recommended by the World Health Organization). This statistic highlights an important fact. We need to train more doctors and other health professionals.

https://chs.ug.edu.gh/postgraduate-endowment-fund/chairman-statement

that doesn't mean we are not doing better than kenya . This is the 14 largest country with Doctor to patient ratio in africa.

Doctors and nurses shortage seem to be everywhere except Cuba. Cuba has around 600,000 doctors. That is saturation.

They are more to medical inclusion rather than doctors access only . And in practical sense , nurses spend more time on patient than doctor and on this Ghana is by far one of the leading country in africa .

rvp2018:
Last I checked the numbers of medical doctors
South Africa - about 45k
Nigeria - 30K
Kenya -15k
Ghana - 5k.
Those are doctors currently working in those countries.
You'll find many Ghanian doctors outside Ghana.

As for largest hospital in Africa in Ghana - a little country - you should scratch yourselves everytime you make such claims.

Actually, you may not even have 5k doctors in Ghana. Look like only about 3000 are left in Ghana.

https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Many-doctors-are-leaving-Ghana-due-to-poor-working-conditions-GMA-1466197

I am not making claim , it is a fact . Yes . Anyway I don't know where you get your claim about the number of doctors from , maybe the same numbeo page . ( You road side economics) let me help you , as of 2017, the data is still used at present , there is 1 doctor to 5000 patient access ratio in Ghana. Ghana was ranked as the 14th largest position of doctor to patient ratio in africa ( most of the country with more doctors are found in southern africa . So we are not doing bad at all on africa standard , in west africa , we follow closely behind Nigeria . This kare fact from world bank . You can check of you want to learn .

It is expected for human to look for more alternative if they feel present condition is not satisfying. Human want can never be satisfy. Ghana doctors are the highest paid in west africa . You can cross-check .

rvp2018:
You Ghanaians suffer from inferior complex.
Clearly Uganda came to understudy one aspect of health case - waste management.
That is how you dispose syringes and such - I guess incinerators
It doesn't mean you've nailed all the aspects of health care.
You may have nail for example prima facia - universal health insurance, nursing and now waste management
But there are other aspect you're still below many countries - for example how many specialists do you have?
Are Ghanaians going to say South Africa or India for complex surgeries - most likely yes.
Every country is almost better in one or two things - and people go to benchmark there - but that does make the country best.
To be the best - you need to nail - everything.
Ghana will for example need to have at least 30,000 doctors - and maybe 5,000 specialist.
I think you barely have 5,000 medical doctors.

Nigeria claims to have lots of medical doctors - and in that aspect of healthcare - they are ahead.
You should therefore cross over to Nigeria and understudy how they trained those many medical doctors.
I am personally pretty suspicious of anything Nigeria claims.

You are ranting.....

When it comes to medical inclusion, only south africa can outshine Ghana in sub saharan africa . despite our population, we have third largest hospital in africa , bar only egypt and south africa, we have the most advance medical center in west africa , far ahead of any hospital in kenya ( UGMC) .and when it comes to specialist, Ghana is awash with lot of human resources both home and abroad .

QuietMynd:
And by trafficking the citizens is the way to make the money.
If the govt is bereft of any idea on how to make money other than collecting part of his citizens paycheck abroad. That govt should be disposed, they have no business been in power.
Any citizen supporting such incompetent govt shouldn't be taken serious by anybody.

Seeking an alternative environment for them to be employed is not trafficking, it is rather another way of creating jobs when the initial environment that produce them has been saturated . Another country needs them and it doesn't come cheap or free because the citizens will be transferring their skills elsewhere after they have gotten it subsides or partially free in their local country . There must be a kind of return to the govt . It is good way of making money , cuba did it . Got over 3 billion dollar worth of oil from the host nation . That is a lot.

QuietMynd:
I still stand by my initial post.
Govt should not sponsor anyone if the govt can't do it out of free will.

Govt is not a charity organization. They need money to finance their objective .

rvp2018:
Healthcare is not nursing only.
It both preventive and curative measures to ensure the healthy wellbeing of the country.

Let try this Numbeo Health Index

Health Care Index is an estimation of the overall quality of the health care system, health care professionals, equipment, staff, doctors, cost, etc. Health Care Exp Index - is aiming to show health care index such that it raises MORE (exponentially) if the health care system is of better quality.

In Africa...


African Countries With The Best Healthcare Systems (2022)

1. South Africa (63.97)

2. Kenya (63.40)

3. Tunisia (56.54)

4. Algeria (52.88)

5. Nigeria (48.49)

6. Egypt (47.01)

7. Morocco (45.57)

� Source: Numbeo's Health Care Index.

You want me to acknowledge a page that is not peer review . How blockhead can you be ? So numbeo is your reference ? This is the reason I called you a road side economics.


When uganda your next neighbour want to understudy best health system practice , they didn't used kenya , they fly to Ghana to come understudy us.

“This visit came at the right time for us in Uganda as our health care waste management was found to be one of the worst performing areas in the health sector. We were informed that UNDP and the Government of Ghana have done a very good job in this sector and our Ministry decided to visit and learn from their initiative.”, noted Ms. Achii.

He said the cedi will stabilise by the end of the year & he has delivered.

The UK has sacked and reshuffled so many ministers and leaders and now they are in recession.

Should we still sack him?

Just30:
This is far above what the forex bureaus and Stanbic bank is doing.

The central bank seem to be playing it safe so that Thier economic data does fall into disarray because of how fast it is appropriating

I am sure CFA is crashing too. Then market must begin to adjust itself , Inflation will begin to crashed now

Just30:
not going to happened

If it appreciate below 5, govt will have a problem

It will make goods produce here extremely expensive right ? But So will it make import extremely attractive .