rvp20182:
What about the outflows - you basically import almost everything - oil export of 3B - refined oil imports of 5B - you're negative. 1st half of this year - exports of 7.6B - imports of 7.5B - before we factor out forex outflows - as investors and ghanians dollarize & run away from your dying economy.

The IMF and WB has already indicated that there's almost no outflows out of the Ghanaian economy... They made that observation just last month by observing the trend over the last 3 years.

Ghana run a surplus and has been doing so for at least 9 years.


The report also shows an increase in total imports from about 6.7 billion dollars in June 2021 to about 7.5billion dollars in June 2022.

The latest figures by the Bank of Ghana indicate that the country received nine billion dollars from her exports in June 2022 compared to the estimated 7.5 billion dollars it spent on importing goods for the same period.

Ghana oil import is only 200 million dollars

I stopped on 1st sentence. Usual madness. Every country has outflows and inflows. Those chinese are sending serious money home. And so are oil, gas, and even Lebanase. MTN south africa alone is cashing out serious money I bet. They dont send cedis - they send dollars.

I see you are already begging MTN to keep their money in Ghana. This happens again when you dont have strong domestic economy.

-->Profit repatriation and the Cedi
https://www.businessghana.com/site/news/business/263130/MTN-commits-to-support-Ghana-CARES-initiative
With regard to profit repatriation and its immense impact on the local currency, the MTN Group president pledged the company’s commitment to repatriate profits in a manner that would not hurt the value of the Ghana cedi against the major foreign trading currencies.

Consequently, he said the telecom giant had began discussions with the Bank of Ghana to find ways that could help reduce the impact of profit repatriation on the value of the local currency.

Just40:
The IMF and WB has already indicated that there's almost no outflows out of the Ghanaian economy... They made that observation just last month by observing the trend over the last 3 years.

Ghana run a surplus and has been doing so for at least 9 years.


The report also shows an increase in total imports from about 6.7 billion dollars in June 2021 to about 7.5billion dollars in June 2022.

The latest figures by the Bank of Ghana indicate that the country received nine billion dollars from her exports in June 2022 compared to the estimated 7.5 billion dollars it spent on importing goods for the same period.

Ghana oil import is only 200 million dollars

rvp20182:
Nonsense. Port charges are small potatos. The big problem - they are dealing with cedis that is falling everyday - and it's hard to find it - except to forage in black alleys and markets. Your central bank can hardly meet 1/4 of the demands. And then when they import - they have to deal with dead stock -as Ghanians can no longer afford to buy many things.

As for Kenya - you will never understand just how strong and resilient our economy is - and it starts with having very strong domestic economy that manufacture a lot of things we use. Then our imports or trade - almost 50% is done within Africa (highest intra-africa trade in Africa) - you dont need to use dollars to trade with Uganda or Tanzania.

That is why we breeze through all these global financial crises like nothing happened.

Fundamentals as we speak. Inflation headline is 9.5% - underlying is 5.7 percent. MPR or base interest is 8.25 percent. Currency depreciation 9 percent. Our fundamentals and macro-economic looks very good...despite a serious drought.

Well there's no dollar shortage here hence the black market is almost negligible.
And importers have had their issue of rising port charges resolved by fixing the exchange rate at port.
Ghana import has continue to dwindle because of strong manufacturing here.

Meanwhile in kenya, dollar shortage has led your importers to scramble around ... With a rise in the black market.

Your 22 billion dollars of import which is done in dollars a great disservice to your economy as you guys can't manufacture anything and be competitive.
None of your neighbors accept trade for anything less than the dollar.

There is no black market for dollars in Kenya. Of course Kshs like all currencies in world have been under pressure from a very strong USD - but nothing unusal - same 9% the Euro or Swiss franc has depreciated against the dollar.

As for Ghana - 140% inflation rate now - and 100% plus currency depreciation.

Madcow - you cannot spin economic data. You own gov has attempted it - but things just become worse n worse.

"Finance Minister Ken Ofori-Atta tells investors that their "best bet is still #Ghana." SPOILER ALERT: Ofori-Atta must be dreaming. Today, I measure Ghana's inflation at a stunning 142%/yr. That's nearly 4 TIMES the official rate."

Just40:
Well there's no dollar shortage here hence the black market is almost negligible.
And importers have had their issue of rising port charges resolved by fixing the exchange rate at port.
Ghana import has continue to dwindle because of strong manufacturing here.

Meanwhile in kenya, dollar shortage has led your importers to scramble around ... With a rise in the black market.

Your 22 billion dollars of import which is done in dollars a great disservice to your economy as you guys can't manufacture anything and be competitive.
None of your neighbors accept trade for anything less than the dollar.

rvp20182:
No, you were desperate for forex, and thought you could print fake cedis, and use it to buy gold from poor galamsey. I think by now the Chinese shaoling gangs must have gone underground with their gold. No sane person can exchange gold with a falling cedis. They will sell in dollars. You go find dollars and buy all the gold you want - or start gov owned mines - and mine as much gold as the swiss. After you learn to make chocolate bars.

Bretton wood 3.0 - desperation - old desperation. Kenya was there in 1993. With forex running out - gov decided to go to DRC and try steal their gold - and re-export.

Now Ghana is trying to snatch small miners gold and use it as hard currency

Chinese are not mine owners

All the gold miners are busy lining up to sell their gold to BOG and receive cedis.

The kid does not even know what Bretton wood 3.0 is.
Your country will be caught wanting in the sinking dollar system.

rvp20182:
I stopped on 1st sentence. Usual madness. Every country has outflows and inflows. Those chinese are sending serious money home. And so are oil, gas, and even Lebanase. MTN south africa alone is cashing out serious money I bet. They dont send cedis - they send dollars.

I see you are already begging MTN to keep their money in Ghana. This happens again when you dont have strong domestic economy.

-->Profit repatriation and the Cedi
https://www.businessghana.com/site/news/business/263130/MTN-commits-to-support-Ghana-CARES-initiative
With regard to profit repatriation and its immense impact on the local currency, the MTN Group president pledged the company’s commitment to repatriate profits in a manner that would not hurt the value of the Ghana cedi against the major foreign trading currencies.

Consequently, he said the telecom giant had began discussions with the Bank of Ghana to find ways that could help reduce the impact of profit repatriation on the value of the local currency.

dollar outflows from Kenya has reached 6 billion dollars

Meanwhile in Ghana, the outflows is a mere 500 million dollars which is the traditional outflows that come from Ghana yearly.

Chinese are real true owners of the small scale mines because Ghania dig the dirt - but are not allowed in the refining room - where chinese poison your water with mercury - count the gold - and declare what they want.

The whole gold purchase scheme is a failure - cedis is in free fall.

Bretton wood gold standard sounds like 0.1 or 1.0.

We are not going back to Gold or Cowery Shells - countries are moving to digital currencies.

Gold simply cannot handle the volume and scale of global transactions. USD will remain the king - and eventually a basket of global currencies.

Ghana desperation to buy Galamasy gold is hilarious

Just40:
Chinese are not mine owners

All the gold miners are busy lining up to sell their gold to BOG and receive cedis.

The kid does not even know what Bretton wood 3.0 is.
Your country will be caught wanting in the sinking dollar system.

Mkenya2019:
There is no black market for dollars in Kenya. Of course Kshs like all currencies in world have been under pressure from a very strong USD - but nothing unusal - same 9% the Euro or Swiss franc has depreciated against the dollar.

As for Ghana - 140% inflation rate now - and 100% plus currency depreciation.

Madcow - you cannot spin economic data. You own gov has attempted it - but things just become worse n worse.

"Finance Minister Ken Ofori-Atta tells investors that their "best bet is still #Ghana." SPOILER ALERT: Ofori-Atta must be dreaming. Today, I measure Ghana's inflation at a stunning 142%/yr. That's nearly 4 TIMES the official rate."

Tell that to your importers who can't find dollars anywhere to buy as more Kenyans and companies in Kenya have decided to hold on to their dollar and starve importers on any.

The Ghana cedis has done a 50% depreciation but it remains highly stronger than the kshs.


Keep spinning your economic desperation and you'll start seeing another shortage of food stuff and oil like you saw in May which led to huge lines for everything.

Cedis started this year at 6 - now we are 14 - that is 150%. You cant spin it.
Kshs started at 113-115 - now at 120 - very little.
No one in kenya has problems finding dollars...the is little concern on the spread...but nothing compared to say Ghana or worse Nigeria.
We still have 4.2 months cover of forex reserves.
You're down to 2.9 months cover of imports forex.
By dec - it will be a month like Ethiopia

Just40:
Tell that to your importers who can't find dollars anywhere to buy as more Kenyans and companies in Kenya have decided to hold on to their dollar and starve importers on any.

The Ghana cedis has done a 50% depreciation but it remains highly stronger than the kshs.


Keep spinning your economic desperation and you'll start seeing another shortage of food stuff and oil like you saw in May which led to huge lines for everything.

Mkenya2019:
Chinese are real true owners of the small scale mines because Ghania dig the dirt - but are not allowed in the refining room - where chinese poison your water with mercury - count the gold - and declare what they want.

The whole gold purchase scheme is a failure - cedis is in free fall.

Bretton wood gold standard sounds like 0.1 or 1.0.

We are not going back to Gold or Cowery Shells - countries are moving to digital currencies.

Gold simply cannot handle the volume and scale of global transactions. USD will remain the king - and eventually a basket of global currencies.

Ghana desperation to buy Galamasy gold is hilarious

Gold mines are not licensed to foreigners... The real mine owners are Ghanaian politicians ..
The Chinese are mere workers hired to carry out excavations.

Our gold purchase program has so far been a success whereby Ghanaian gold miners who mine 48% of Ghana gold are busy selling the gold to BOG collecting cedis and investing it into real estate. This has led to the huge boom in Ghana 12 million tons cement consumption.
In 2 to 5 years time, the BOG whole have accumulated enough gold to declare a 70% reserve to circulation ratio like Switzerland.

Gold and learn what Bretton wood 3.0 is and you'll understand why Germany, France, UK, China, Russia and every Asian Central Bank has accumulated gold.

Madness.

Just40:
Gold mines are not licensed to foreigners... The real mine owners are Ghanaian politicians ..
The Chinese are mere workers hired to carry out excavations.

Our gold purchase program has so far been a success whereby Ghanaian gold miners who mine 48% of Ghana gold are busy selling the gold to BOG collecting cedis and investing it into real estate. This has led to the huge boom in Ghana 12 million tons cement consumption.
In 2 to 5 years time, the BOG whole have accumulated enough gold to declare a 70% reserve to circulation ratio like Switzerland.

Gold and learn what Bretton wood 3.0 is and you'll understand why Germany, France, UK, China, Russia and every Asian Central Bank has accumulated gold.

Mkenya2019:
Cedis started this year at 6 - now we are 14 - that is 150%. You cant spin it.
Kshs started at 113-115 - now at 120 - very little.
No one in kenya has problems finding dollars...the is little concern on the spread...but nothing compared to say Ghana or worse Nigeria.
We still have 4.2 months cover of forex reserves.
You're down to 2.9 months cover of imports forex.
By dec - it will be a month like Ethiopia

Your central bank keep churning out fake data
Kenya forex reserve is at almost 6 billion dollars with Kenya month import of 2 billion dollars, that is less than 3 months cover.
Ghana reserves stands at 7 billion dollars with a monthly import of 1.2 billion dollars but as we normally do in Ghana, we under report it to be 2.9 months.

Tell that to Kenyan importers who can't find any dollar to buy and they will slap you... Do you think it is out of no reason why there are food shortages and fuel shortages in your country Kenya?

With this kind of capital outflows from Kenya, your country is in serious trouble ... No wonder your importers are struggling to find dollars

Mkenya2019:
Madness.

As usual... When your craziness has been exposed
You scream tantrum


All of Ghana real economic data remain better than your country Kenya except for inflation and cedi depreciation but the real impact of those two is still better than what exist in Kenya.

Nonsense.

Just40:
Your central bank keep churning out fake data
Kenya forex reserve is at almost 6 billion dollars with Kenya month import of 2 billion dollars, that is less than 3 months cover.
Ghana reserves stands at 7 billion dollars with a monthly import of 1.2 billion dollars but as we normally do in Ghana, we under report it to be 2.9 months.

Tell that to Kenyan importers who can't find any dollar to buy and they will slap you... Do you think it is out of no reason why there are food shortages and fuel shortages in your country Kenya?

With this kind of capital outflows from Kenya, your country is in serious trouble ... No wonder your importers are struggling to find dollars

You cant rig or cook for long - that is your cedis is collapsing - Kshs remain very very strong and inflation is single digit.

Just40:
except for inflation and cedi depreciation but the real impact of those two is still better than what exist in Kenya.

rvp20182:
Nonsense.

You this guy, you really don't have sense how do I expect you to understand sensible stuff.


Wait for the next shortages in your economy, the last one was just this May and June but thanks to the WB and IMF.
4 months down the line and you're already out

rvp20182:
You cant rig or cook for long - that is your cedis is collapsing - Kshs remain very very strong and inflation is single digit.

Data cooking is a Kenyan thing and not Ghana.

Kshs strong ?

How does it compare to the Cedi in value ?

Even Miss Trudy will educate you

QueenNyakim:


He was warned about this by the World Bank and IMF for years to stop recklessly borrowing or that Ghana would become one of the worst high indebted countries. He along with Bawumia decided not to listen and look where Ghana is today, near to the brink of defaulting.

I know one thing for sure, I'm not voting for the NPP or NDC in 2024. I just hope a third alternative party appears in 2023 that doesn't have their heads up their own asses.

There is no third force coming from anywhere so stop sounding like a disappointed NPP member. I find such comments very hypocritical and offensive. Nana Addo has failed totally so accept and move on.

Let's hold the bull by the horn and cut the head off. Some of us had to travel all the way from Kumasi to Accra just to come and vote for Nana Addo in 2016. I personally thought he would be a better President than Mahama not knowing he was just an empty being with no vision and principles.

If you want to be truthful to yourself you would reaslize the last 8 years under NDC was far far better than the 6 years under this current NPP. Compare both parties under each sector and you will know the truth.

GeneralDae:

I would advise you look beyond party and look more at the competence and track record of the person.
Look at Nigeria today, many are swayed by the Obi mantra in Nigeria. Some simply due to anger vested against the APC and PDP.
To me, it makes no sense. We should rather be weighing the candidates and their ideologies more than the party's.
For me, I can never vote an Atiku for instance because I am not a subscriber to the free market capitalist ideology.
I am a socio capitalist. I believe in PPP ( the state working hand in hand with the private sector). The private sector should learn to see the state as big brothers who mean well, not dictators out to get them.

Exactly so
2024 election should be a matter of track record and vision not partisanship.

The moment you hear someone say I won't vote for NPP and NDC then you know that person is a disappointed member of the ruling government. That person acknowledges the fact that his/her government has failed woefully however voting for the opponent party is also not an option for him/her

vankelvin:


Exactly so
2024 election should be a matter of track record and vision not partisanship.

The moment you hear someone say [b] I won't vote for NPP and NDC then you know that person is a disappointed member of the ruling government. That person acknowledges the fact that his/her government has failed woefully however voting for the opponent party is also not an option for him/her

What a way to spot them

Just40:
Overlooking Ridge

That new orange building though
Thumbs up to the Methodist church of Ghana

vankelvin:

That new orange building though
Thumbs up to the Methodist church of Ghana

Are they the owners ?

What is it being used for?

It looks unique in it setting and fit right in

Just40:
Data cooking is a Kenyan thing and not Ghana.

Kshs strong ?

How does it compare to the Cedi in value ?

Even Miss Trudy will educate you

just a random conversation in a certain Whatsapp group.

Just40:


What a way to spot them

That's how they are.
In their hearts they know very well their party has failed, so far the worst government in the history of Ghana but they will never ever vote for NDC

NTSA:

just a random conversation in a certain Whatsapp group.

so what should I do with it?

Or is it value that you don't understand?

Just40:
Are they the owners ?

What is it being used for?

It looks unique in it setting and fit right in

That's their new National Head-Office

Just40:
so what should I do with it?

Or is it value that you don't understand?

I think the intended message is already home.

vankelvin:

That's how they are.
In their hearts they know very well their party has failed, so far the worst government in the history of Ghana but they will never ever vote for NDC

They make no impact for now because all the floating voters like yourself and I spotted the mess earlier and change course... The little who didn't do earlier, had their eyes open just 2 months after the election so.

Can't wait to have Seth Terkper back in the economic management team

vankelvin:


That's their new National Head-Office

OH okay .. nice

Perfect reply

Just40:
so what should I do with it?

Or is it value that you don't understand?

NTSA:

I think the intended message is already home.

Yeah... The message is that the kshs is valueless in the face of the Cedi.

vankelvin:
Perfect reply
[b]

They are yet to understand value of currencies