rvp2018:
Why is world biggest gold producer ghana in distress'
Answer nobody give a f of gold
Dont a fool

Ghana is not in distress ... Ghana is in tight space because of excessive spending over the last 4 years ... A spending habits that it has to keep up because of a competitive political space.

In other to keep this spending habit up domestic finance and monies from it investments alone are not enough, it needs to constantly have access to the Eurobond market. Shutting Ghana out of the Eurobond market because of it growing debt portfolio which worried investors of Ghana ability to pay back should it debt portfolio keep growing led to a cascading event.

Those invents has since led to a drastic Central bank intervention which has cause Ghana to effectively set a gold price slightly below international market price like the Russians recently did..

And all gold purchases will be done in Cedis, effectively setting a gold cedi peg which will lead to more Cedi printing. (Underwriting the currency)
Guaranteeing the purchase of all gold produced in Ghana by the central bank first before any export. A brilliant thing that should have been done a long time ago.. Something similar to what Switzerland does will be happening in the next 10 years when it come to reserve holding.

Just as it new HQ is coming up

https://www.youtube.com/watch?v=cu__oAAt-Xo

https://www.youtube.com/watch?v=liJaAyg0bLY

https://www.youtube.com/watch?v=uP4bLN_ILqs

samorobo:



Finally someone spoke my mind. DRC is the armpit of Africa. A top notch shiithole,they ain’t no money there. The fools would loose their shirt there.

You and your mental twin should report ASAP to Equity bank strategic planning department ASAP.
James Mwangi would be delighted with your insight!

rvp2018:
Obaboon, we refinanced our debt - we borrow a 10 billion - we repay 10billion. The more than 20 billion revenues (ordinary+AIA) is what we use for development+recurrent expenditure.

Alas! You're speaking Slovenian to a Makoko danfo driver. No worries- some of us understand and appreciate.
Carry on!

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.

I try to avoid looping over the same ishyt but this is classic!

Definition of logorrhea
: excessive and often incoherent talkativeness or wordiness

https://www.merriam-webster.com/dictionary/logorrhea

kikuyu1:


I try to avoid looping over the same ishyt but this is classic!



https://www.merriam-webster.com/dictionary/logorrhea

I like the way you're absolutely stupid with your inability to ever make sense on anything on this platform

If it is not conspiracy, it is absolutely stupid interjection

I thought RAO had retired after his attempted come back via Julie Soweto's court room theatrics.

Ati, "electoral coup d'etat!"

[urlhttps://youtu.be/WMi3Wyo3np4/url]

Someone come get this byatch!?

Just40:
Ghana is not in distress ... Ghana is in tight space because of excessive spending over the last 4 years ... A spending habits that it has to keep up because of a competitive political space.

In other to keep this spending habit up domestic finance and monies from it investments alone are not enough, it needs to constantly have access to the Eurobond market. Shutting Ghana out of the Eurobond market because of it growing debt portfolio which worried investors of Ghana ability to pay back should it debt portfolio keep growing led to a cascading event.

Those invents has since led to a drastic Central bank intervention which has cause Ghana to effectively set a gold price slightly below international market price like the Russians recently did..

And all gold purchases will be done in Cedis, effectively setting a gold cedi peg which will lead to more Cedi printing. (Underwriting the currency)
Guaranteeing the purchase of all gold produced in Ghana by the central bank first before any export. A brilliant thing that should have been done a long time ago.. Something similar to what Switzerland does will be happening in the next 10 years when it come to reserve holding.

Just as it new HQ is coming up

https://www.youtube.com/watch?v=cu__oAAt-Xo

https://www.youtube.com/watch?v=liJaAyg0bLY

https://www.youtube.com/watch?v=uP4bLN_ILqs

21 floor building that will cost 200 billion dollars...what are Ghanians smoking.Such building cannot cost more than 10m dollars.You all need to go back to proper school..not double track nonsense

kikuyu1:
I thought RAO had retired after his attempted come back via Julie Soweto's court room theatrics.

Ati, "electoral coup d'etat!"

[urlhttps://youtu.be/WMi3Wyo3np4/url]

Someone come get this byatch!?

He will run on on like his father until he dies..look like he had a stroke...

Just40:
I like the way you're absolutely stupid with your inability to ever make sense on anything on this platform

If it is not conspiracy, it is absolutely stupid interjection

He is a druggie. I've never seen him type anything that reflects his old age. The only purpose he serves here is to cheerlead RIP and the others.

Just40:

They are counting on a new tourism drive called Kenya the real deal to salvage their country...hoping for the same successes Ghana chalked with it year of return.

But how will that happen when Kenyan workmanship looks like this?
I now understand why they are easily excited by pavements...
It is a miracle to find good pavement there

What sort of country is this?

rvp2018:
Budget deficit is dropping annually - and our revenues are increasing at double digit.

I wonder why you don't understand basic things. I told you your budget deficit keeps going up! Your economy is a joke.

That was a projection in Feb. Kenya budget is normally read on end of June together with other East Africa. 2021/2022 the deficit was 1 trillion Kshs or around 8 percent. This year of 2022/2023 the deficit is 6 percent - 800B Kshs - with roughly 250b expected to be borrowed externally - and 550B to be borrowed internally. That was under our drunken sailor.

Ruto is proposing a supplementary budget cut of 300B - that should bring the deficit to 500B. And next year we will have another massive hair cut - with plan to balance the budget in 2024/2025. Kenya is NOT Nigeria or Ghana zoo. We have problems we fix them.

Going forward almost all big infrastructure projects will be financed through PPP - until we are out of the debt distress - then we can leverage again.

Now tell us about NIGERIA ZOO.

The country's current debt service, which stood at N1. 94 trillion naira from January – April 2022, is over 100% of the nation's revenue which was N1. 64 trillion naira, within the same period.Jul 25, 2022

obaaderemi:
I wonder why you don't understand basic things. I told you your budget deficit keeps going up! Your economy is a joke.

Obaboon can you explain how the Zoo operates to us humans.

Nigeria's debt service ratio now world's worst, says EIU https://businessday.ng › Economy
Jul 27, 2022 — “The staggeringly high 118.9 percent debt service/revenue ratio in January-April is the world's worst and underlines unsustainable fiscal policy ...

Nevermind - Fitch says there is still room to grow this to almost 400% debt service ration

Nigeria debt-to-revenue ratio to rise 395% in 2022 — Fitch -https://www.vanguardngr.com › News
Mar 23, 2021 — “The debt-to-revenue ratio will rise to 395 percent in 2022 on our forecasts, versus a forecast 'B' median of 325 percent. Debt interest cost ...

rvp2018:
21 floor building that will cost 200 billion dollars...what are Ghanians smoking.Such building cannot cost more than 10m dollars.You all need to go back to proper school..not double track nonsense

Good you have gone quiet to look for another deflective point.

The building will cost 100 million dollars together with it underground vaults and security systems

obaaderemi:
He is a druggie. I've never seen him type anything that reflects his old age. The only purpose he serves here is to cheerlead RIP and the others.

He acts like a mental patient here

obaaderemi:
What sort of country is this?

A country that failed to take technical education serious

Mkenya2019:
Obaboon can you explain how the Zoo operates to us humans.

Nigeria's debt service ratio now world's worst, says EIU https://businessday.ng › Economy
Jul 27, 2022 — “The staggeringly high 118.9 percent debt service/revenue ratio in January-April is the world's worst and underlines unsustainable fiscal policy ...

Nevermind - Fitch says there is still room to grow this to almost 400% debt service ration

Nigeria debt-to-revenue ratio to rise 395% in 2022 — Fitch -https://www.vanguardngr.com › News
Mar 23, 2021 — “The debt-to-revenue ratio will rise to 395 percent in 2022 on our forecasts, versus a forecast 'B' median of 325 percent. Debt interest cost ...

There was once a country called Nigeria unless they export more oil and groundnuts.

100M dollars Mad cow. That can build you 10 such buildings.

Just40:
Good you have gone quiet to look for another deflective point.

The building will cost 100 million dollars together with it underground vaults and security systems

You hear stories about salaries delayed for years; unpaid pension for years; very strange things; Kenya gov employees get their pay check on 23rd every month; pension rarely delay for a month; it always paid on time.

Where kenya gov struggles sometimes to pay pending bills owed to contractors and suppliers - Nigeria gov struggles to pay salaries and pensions.

gallivant:


There was once a country called Nigeria unless they export more oil and groundnuts.

Mkenya2019:
100M dollars Mad cow. That can build you 10 such buildings.

as for you, your level of stupidity is beyond crazy.

You think a central bank HQ is just another mere building er?

Even an airport terminal can't cost more than that let alone a Central bank HQ...

Don't worry, you can go and build a cheap central bank HQ in Kenya

Your current 5 floor building is more than adequate - you got empty coffers . What pray will you be securing - the worthless CEDIS?

Just40:
as for you, your level of stupidity is beyond crazy.

You think a central bank HQ is just another mere building er?

Even an airport terminal can't cost more than that let alone a Central bank HQ...

Don't worry, you can go and build a cheap central bank HQ in Kenya

Mkenya2019:
You hear stories about salaries delayed for years; unpaid pension for years; very strange things; Kenya gov employees get their pay check on 23rd every month; pension rarely delay for a month; it always paid on time.

Where kenya gov struggles sometimes to pay pending bills from contractors and suppliers - Nigeria gov struggles to pay salaries and pensions.

That's unheard-of. People must really be suffering and smiling in that lagoon.

Remember the old Nairobi thread - it brought me to Nairaland - and that was first thing I use to see on their homepage - VISA issues worlwide - then unpaid salaries or pension. I found it very curious. It very strange until you understand that broke gov really struggle to meet the basic obligations - salaries and pensions - leave alone development.

As strange as Ghana now asking local debt holders - that they wont pay

And it also explain their military coups - sometimes they cannot afford to pay military salaries. Those kind welfare issues soon force the soldiers to take over gov.

gallivant:


That's unheard-of. People must really be suffering and smiling in that lagoon.

gallivant:


There was once a country called Nigeria unless they export more oil and groundnuts.

Now it's a race between the 2 as to who defaults first! Damn; you know they'll both go down it's ONLY a matter of time. Whoever falls first will have a domino effect on the other.
Waffas, learn to hold your peace! There is actually value in silence: if you hadn't even started all this debt dycknoise we'd NEVER have taken a closer look at your own situation.
But we have and you abuse us for bringing it to your attention. Ungrateful b*stards!?

MzeeMwenyewe1:
This is baringo county, they have produced a president for 24 years and their son ruto has been deputy president for 10years. Ladies and gentlemen here receive food Reliefs every year despite having fertile lands and good weather

We know Kenya depends a lot on foreign aid to feed its people.
But we didn't know it was this bad.

To be honest I dont understand how Nigeria is able to function - it should have long defaulted - I guess they wait for oil windfalls - pay their debt - and keep moving on.

kikuyu1:


Now it's a race between the 2 as to who defaults first! Damn; you know they'll both go down it's ONLY a matter of time. Whoever falls first will have a domino effect on the other.
Waffas, learn to hold your peace! There is actually value in silence: if you hadn't even started all this debt dycknoise we'd NEVER have taken a closer look at your own situation.
But we have and you abuse us for bringing it to your attention. Ungrateful b*stards!?

obaaderemi:
We know Kenya depends a lot on foreign aid to feed its people.
But we didn't know it was this bad.

Nigeria is facing Armageddon but Obaboon is still occupied with foreigners and his low self esteem!

You should be in makoko streets protesting about your impending doom!

Just40:

He acts like a mental patient here

I've always suspected he had a loose bolt in the head. It's sad.

Mkenya2019:
To be honest I dont understand how Nigeria is able to function - it should have long defaulted- I guess they wait for oil windfalls - pay their debt - and keep moving on.

Thank you for admitting you are confused about how Nigeria could continue to be on its feet. That's our secret. We can't default on our debt. Our society is robust economically. Unlike the Kenyan economy reeling from debt. If there's going to be a defaulter, it's Kenya.

It's the same way with everything else we tell you here about Nigeria being ahead of Kenya. You and your brothers will continue to be confused.

This is very old. Black market rate for Naira is now 750

gallivant:


Nigeria is facing Armageddon but Obaboon is still occupied with foreigners and his low self esteem!

You should be in makoko streets protesting about your impending doom!

obaaderemi:
Thank you for admitting you are confused about how Nigeria could continue to be on its feet. That's our secret. We can't default on our debt. Our society is robust economically. Unlike the Kenyan economy reeling from debt. If there's going to be a defaulter, it's Kenya.

It's the same way with everything else we tell you here about Nigeria being ahead of Kenya. You and your brothers will continue to be confused.

Kenya is regarded to be one of the top three countries in Africa that could default on debt within the next six months if something is not done urgently.
I am surprised they come here to play, it's either these guys here do not know watz up with their country Kenya at the moment or they are simply in denial.

I think you're post default state - gov budget is miniature - gov services absent - nothing basically works - except private and individual initiatives.

obaaderemi:
Thank you for admitting you are confused about how Nigeria could continue to be on its feet. That's our secret. We can't default on our debt. Our society is robust economically. Unlike the Kenyan economy reeling from debt. If there's going to be a defaulter, it's Kenya.

It's the same way with everything else we tell you here about Nigeria being ahead of Kenya. You and your brothers will continue to be confused.