rvp2018:
Is Ghana your mother or property?

Does your mother know you are disgracing her on nairaland?

Respect her and don't bring in mother, so yours won t turn HOE overnight.

vaxx2:


I said your currency is at worst hit . currency massaged artificially always end up in shambles at the end . go CHECK what happens to Turkey currency, which kenya is practically imitating

Cedis is in free flow , it is not massaged . your currency is not a true reflection of its value. IMF already indicate that to you.....and You guys don't even have enough extra cash to power it. Your import is far bigger than your export. The kind of currency massaging you guys practice will only increased your debt and widen your deficit.

Already you know what happen when your goverment artificially cap the interest rate . you see how your micro economy suffers particularly your private sector .


Your currency is not in anyway better than cedis which is a true reflection of its value . I even argue cedi is far more valuable than yiur currency cus yours is politically influences like your interest rate. kenya your economy suck ... I am not insulting ....

You cannot sustain currency artificially for that long - if CBK was cooking our Kshs-USD it would have began a free fall like Ghanian one which you tried to peg 1:1 to dollar in 2008 after hyperinflation of 80s and 90s. Now the Cedis is heading 5.5 - by next year 6 - and the free-fall continues.

Our CBK only intervene to ensure stability. Now I don't even comprehend what he'll going on in your economy.. because with currency free fall like that..no foreign investor can keep the cedis..they convert to the dollar and send it home..huge capital flight ASAP. Ghanaians themselves are preferring to open USD account and keep their money in foreign currency.

You seem you export lots of minerals and have huge remittance but your macro economic are just shitty. Youre barely doing 4.5 months of forex reserve.Currency on free-fall. Inflation at double digit. Interest rates worst than Nigeria.

Kenya commercial interest rate capping was enacted parliament against executive wishes - and our judiciary ruled it unconstitutional for interfering with central bank mandate - and that now is history. I don't expect interest rate to rise from 13% by much - the max for risk borrowers will be 16%.

Problemkid1:

Don't support the nonsense that those two are doing

Kennyswagz2:
I don't know bro

stupid class two kid

ChiSomtoChi:
Dear Kenyans, I live in Nigeria. In fact, Kenya is better than Nigeria. Far better.

iwu aturu. ijele Kenya mbu. ewu

Carmit:

Lol....
That's why I typed one africa Bro
Africans have and always will remain one!

Absolutely

No continental drift formed against the "dark continent" shall prosper

rvp2018:
Okay reading Ghana re=based GDP. The Ghanian Cedis is deteriorating every year against the USD. Something is wrong with Ghana macro-economics. In 2012 - it was nearly pegged to the dollar..then it became 1.92 in 2013, then 2.94 in 2014, then 3.78 in 2015, then 3.92 in 2016, then 4.36 in 2017, then 4.59 in 2018 and now in 2019 it's approaching 5.2.
http://www.statsghana.gov.gh/gssmain/fileUpload/National%20Accounts/Annual_2013_2018_GDP_April%202019%20Edition.pdf

freely floating currencies turn to depreciate on high speculation

that is the nature of fiat currencies

rvp2018:
You cannot sustain currency artificially for that long.Our CBK only intervene to ensure stability. Now I don't even comprehend what he'll going on in your economy.. because with currency free fall like that..no foreign investor can keep the cedis..they convert to the dollar and repartite it home..huge capital flight. You seem you export lots of minerals and have huge remittance but your macro economic are just shitty.Youre barely doing 4.5 months of forex reserve.Currency on freefall.Hehehe.

i repeat again, Ghana economy is not politically massage , economics works here . the inconsistency in your purchasing power and your shilling currency shows your national statistics are simply fooling you. there may even be more lies to your GDP economy. I will check on it when I have time. your goverment are simply lying . Your currency is overvalued by 30 per cent on a purchasing power parity (PPP) basis.

Your currency was not as strong in the global market as your goverment try to paint it. is it the same currency you want to compare wirh cedis? Ghana Inflation declined from 15.4 percent in 2016 to 7.4 percent in 2019 Fiscal deficit falling from 6.5 percent to 2.4 percent in 2019, Interest rate on 91-day Treasury bill from 16.3 percent in 2016 to 14.6 percent in 2018 ..... ( 2019 is not out ) and Current Account deficit from 6.6 percent in 2016 to 3.2 percent also in 2018. How can cedi depreciation be attributed to weak fundamental?

i put it to you kenya microeconomic index is weak and the true value of its currency is not reflected .....

JaceBlaze:
Absolutely

No continental drift formed against the "dark continent" shall prosper

land mass doesn't make a people one. What Unites l people is not a mono factor, it's complex.
North Korea/ South Korea, pak/ind. Isreal/Palestine.

Nope. Free floating currency when economic fundamentals are solid don't go on free fall - they can depreciate or appreciate in low margins. Your macro-economics are a mess - inflation, interest rates, and the 'fake' economic growth doesn't seem to help at all - the CEDIS.

Kenya is essentially free-floating currency (IMF last year disagreed and say it was managed) - but CBK does market intervention once in and a while - and it's not like our CBK manufacture USD. And there are no forex controls in Kenya.

Just30:
freely floating currencies turn to depreciate on high speculation

that is the nature of fiat currencies

Export by African countries, kenya=$6B
Ghana=$17B
Nigeria=$52B.

Interesting

Nano think it's structural and stuff like 1D1F will help. I disagree. It's not structural - otherwise kenya with Africa highest trade deficit (11B dollars) would be crying too. It's failure of of Ghana Central Banker to manage & instill confidence on the CEDIS - and stamp on dollarization of the economy. Once people lose faith in a currency - it's a free-fall - because individuals will trade or save in USD - while foreign investors will convert CEDIS to USD ASAP and send it back home to preserve value.

"We live in a country where we are overly dependent on the importation of things for our daily sustenance. Things we can produce, we continue to export them.And at the same time, we don’t generate enough export,” he said and stressed the need for public discourse to focus on addressing how the country could reduce import."

rvp2018:
My friend your currency is so useless most Ghanian prefer to keep the dollar.I mean something that loses value in such scale is very shocking.Even the Naira is not that bad.And this is historical problems you cannot seem to solve.Initially cedis had become so useless you started pegging to the dollar..it hasn't helped at all because now 5 cedis is equal to a dollar.Ksh is Africa strongest currency for many years now.It depreciated to the dollar in a decade from 78shs to now 100shs.We don't export lots of minerals and yet our forex reserve are 9b dollars.. more than enough to cover the min of 4 months of import.Something is wrong with Ghana macro economic.. interest rate, inflation,currency.I wonder how an investor outside natural resources would risk his money in a CEDIS not any different from Zim dollar.If you had 10m cedis five years ago and you want to reprariate back to your country, the dollar equivalent will be 2m.You would have lost 8m.Which foreign investors will keep the cedis? Stability of currency is important

cedi was never pegged to the dollar

No Ghanaian prefer using the dollar
dollar is not even a legal tender here.

this desperation of yours need to be address.

since you dont know how MOU in investment works
Let me help teach you

this is the economics of foreign exchange

https://www.youtube.com/watch?v=ig_EO805rpA

samorobo:
Kennyswag and chisomtvhi be done with this nonsense already...weda you like am or not, you both are Nigerians that shares the same country....period

that ipob loser wanted to spoil this thread with their usual nonsense.. I had to put him in his place quickly

Just30:
I am a stupid kid

sorry bro

Why do you guys lie when the data is our there. Most Ghanians are now keep their money in foreign currency. Foreign investors repartraite their money as soon as possible leading to capital flight. This is loop that feed itself and CEDIS continues to fall.

Evidence 1:Bank of Ghana captured this in the Banking Sector Report for September 2019 it published.

The report shows that the domestic currency component of deposits recorded a slower growth of 9.1 percent to GH¢54.8 billion in August 2019, 20 percentage points lower than the previous year’s growth; whereas, foreign currency deposits grew by 21.2 percent to record GH¢21.2 billion during the review period compared to a growth of 18.6 percent in the previous year.

Just30:
cedi was never pegged to the dollar

No Ghanaian prefer using the dollar
dollar is not even a legal tender here.

this desperation of yours need to be address.

since you dont know how MOU in investment works
Let me help teach you

this is the economics of foreign exchange

https://www.youtube.com/watch?v=ig_EO805rpA

rvp2018:
Nope. Free floating currency when economic fundamentals are solid don't go on free fall - they can depreciate or appreciate in low margins. Your macro-economics are a mess - inflation, interest rates, and the 'fake' economic growth doesn't seem to help at all - the CEDIS.

Kenya is essentially free-floating currency (IMF last year disagreed and say it was managed) - but CBK does market intervention once in and a while - and it's not like our CBK manufacture USD. And there are no forex controls in Kenya.

The capping of your interest shows your goverment can politically influenced anything in your country. Your national statistics are simply lying about how rosy currency is ?. If your purchasing power is dwindling , how can you say you have a better currency...

rvp2018:
Yeap nobody wants to hold onto a currency not any different from Zim dollars https://www.google.com/amp/s/www.pulse.com.gh/bi/finance/bank-of-ghana-report-predicts-more-cedi-depreciation-as-depositors-switch-to-open/egf7v71.amp

One thing you dont know is that, the Cedi is still a better currency than the kshs

your currency that is on constant support because you export just 5 billion dollars whiles you import 15 billion dollars.


your economy is import-dependent
Meaning there is serious figure massaging going on in Kenya as we speak.

Kennyswagz2:
that ipob loser wanted to spoil this thread with their usual nonsense.. I had to put him in his place quickly

The best thing to do to him is to ignore him...they say silence is for a fool.

Just30:
One thing you dont know is that, the Cedi is still a better currency than the kshs

your currency that is on constant support because you export just 5 billion dollars whiles you import 15 billion dollars.


your economy is import-dependent
Meaning there is serious figure massaging going on in Kenya as we speak.

check their depreciated purchasing power. and then ask him how is their currency strong ?

You can't have a depreciated purchasing power with high currency. somebody must be lying some where. The goverment is simply lying to them...

vaxx2:


I said your currency is at worst hit . currency massaged artificially always end up in shambles at the end . go CHECK what happens to Turkey currency, which kenya is practically imitating

Cedis is in free flow , it is not massaged . your currency is not a true reflection of its value. IMF already indicate that to you.....and You guys don't even have enough extra cash to power it. Your import is far bigger than your export. The kind of currency massaging you guys practice will only increased your debt and widen your deficit.

Already you know what happen when your goverment artificially cap the interest rate . you see how your micro economy suffers particularly your private sector .


Your currency is not in anyway better than cedis which is a true reflection of its value . I even argue cedi is far more valuable than your currency cus yours is politically influence like your interest rate. "'kenya your economy suck"" ...

You goverment can only do little in terns od social development with such kind of economy. cus too much money is spend unnecessary

I am not insulting ....

If he has played house of cards before, like he will know what it means when you play with cards and all the cards are against you.

They are on a doom path if they dont stop borrowing to support the currency.

Your debt goes high, you dont produce much
so you cant service the debt.
Inflation hits and everyone suffers

samorobo:
Lagos and her world class infastructures

Smh. How many times will you post the same bullshit pictures? We want to see something new Sammy. Get with the program.

vaxx2:


i repeat again, Ghana economy is not politically massage , economics works here . the inconsistency im your purchasing power and your shilling currency shows your national statistics are simply fooling you. there may even be more lies to your GDP economy. I will check on it when I have time. your goverment are simply lying . Your currency is overvalued by 30 per cent on a purchasing power parity (PPP) basis.

Your currency was not as strong in the global market as your goverment try to paint it. is it the same currency you want to compare wirh cedis? Ghana Inflation declined from 15.4 percent in 2016 to 7.4 percent in 2019 Fiscal deficit falling from 6.5 percent to 2.4 percent in 2019, Interest rate on 91-day Treasury bill from 16.3 percent in 2016 to 14.6 percent in 2018 ..... ( 2019 is not out ) and Current Account deficit from 6.6 percent in 2016 to 3.2 percent also in 2018. How can cedi depreciation be attributed to weak fundamental?

i put it to you kenya microeconomic index is weak and the true value of its currency is not reflected .....

This can only mean, their central bank is using huge part of the borrowed money to support their currency in a pegging system.

Capping was populist move by parliament to reign on the banks who had refused to be self-regualte - although it was not as bad as I have seen in Ghana and Nigeria. We are a modern democracy - and Judiciary said no - that is Central Bank job. As you speak interest capping is gone. It was only there for 3yrs (2016-2019).

When it come to purchasing power - I don't what exactly that mean - you see we have huge trade deficit - meaning we import more than we export - so a strong Shilling works for us - purchasing power wise - and of course it also helps when we have to repay debts.

Now Ghana you have positive trade deficit - so I don't even know why your president think you're importing more than you should - and but what is hammering you is not a WEAK CEDIS - it's a UNSTABLE RAPIDLY DETERIORATING CEDIS. Nobody can trust such a currency - leading to capital flight.

vaxx2:
The capping of your interest shows your goverment can politically influenced anything in your country. Your national statistics are simply lying about how rosy currency is ?. If your purchasing power is dwindling , how can you say you have a better currency...

Just30:


This can only mean, their central bank is using huge part of the borrowed money to support their currency in a pegging system.

How can they then think about social development like connecting the numbers of citizens in rural area to national grid, like water access , like building schools, hospitals or even financing bigger project in excess of 2 billion dollar without being hit hard ...

samorobo:


The best thing to do to him is to ignore him...they say silence is for a fool.

no I wouldn't.. the idiot wanted to turn this thread to another thing...
Ok bro i have heard. I will ignore him

rvp2018:
Nope. Free floating currency when economic fundamentals are solid don't go on free fall - they can depreciate or appreciate in low margins. Your macro-economics are a mess - inflation, interest rates, and the 'fake' economic growth doesn't seem to help at all - the CEDIS.

Kenya is essentially free-floating currency (IMF last year disagreed and say it was managed) - but CBK does market intervention once in and a while - and it's not like our CBK manufacture USD. And there are no forex controls in Kenya.

your central bank will not even dream of freely floating your currency
because, in minute, it will become useless like Zimbabwe

how do you think they will do it?
when export is just 5 billion dollars?

You are just piling on debt you cannot pay
encourage by you politicians to support your national currency.
Just to cover for the weak fundamentals in your economy

This will end in a new Zimbabwe.

samorobo:


Don't support the nonsense that those two are doing

Nah? I won't do such bro.

You know the stats you buddy are quoting are very shocking. Inflation of 15% down to 7.5% for example is only possible in a country that is in economic mess. Not a country that is growing at such rate. Kenya inflation rate has always been under 5%. For all the time I can recall Kenya inflation has always been single digit. Nowadays it as low as 4%.

The accusation that Kshs is artificially pegged to dollar has no basis - Kshs for last 30yrs has been 63- 78 -85 -100 to the dollar. We cannot possibly sustain to keep Kshs for that long without the fundamentals. In our 50yrs of independence - we have only had one serious hyper-inflation last 2-3yrs - we had Kshs drop from 20shs to 60shs in 1992/1993 - after our central bank was looted/donor funding withdrawn - in the run up to the first real multiparty election.

Just30:


This can only mean, their central bank is using huge part of the borrowed money to support their currency in a pegging system.

vaxx2:
I am still waiting for what kazikazi is proud of.....


maybe the safari pack and the electric train

Lol

Don't forget mountains and BRT!

What else could there be?

samorobo:


Don't support the nonsense that those two are doing

By the way Sammy. Are you enjoying the show between rvp2018 and vaxx

Kennyswagz2:
the last picture, were is that place?

It's Dubai bro, not Eko.