Just30:


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.

rvp2018:
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.

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

Interesting

Just30:
ll
This can only mean, their central bank is using huge part of the borrowed money to support their currency in a pegging system.

gallivant:


It's Dubai bro, not Eko.

Just30:
you you just posted, you dont even understand

In Ghana, not one can own a dollar account unless they earn in dollars
the only reason domestic deposit did not grow much was that Ghana is in a banking crisis at the moment.

An engineered banking crisis aiming to burst a bubble in a controlled manner before it leads to a bigger crisis.

rvp2018:
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:
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.

Just30:
Ghana currency depreciation is a structure thing
whiles capital flight is on the lower side,
demand for dollars for import still remain high

that is why Ghana is embarking on an import substitution program


The only reason why the Kenyan case hasnt turned into another Zimbabwe is that your central bank is borrowing both domestically and foreign
hugely to support the currency.

with the knowledge i have on fiat currencies, this trend in unsustainable
it leads to more misery

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...

Problemkid1:
By the way Sammy. Are you enjoying the show between rvp2018 and vaxx

Kennyswagz2:
the last picture, were is that place?

vaxx2:
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:

Ghana is a dollarised country and the issue is more historical rather than fundamentals . stopping more import shows that we want to be self sufficient in area we think we are better off and we can can perform better....

Just30:
by borrowing to support the currency
Caping inflation means that inflation cannot expose them until national revenue can no longer support debt repayment.

then they will turn to borrow new to pay old debts
Debt substitution program.

samorobo:


Lol I am...vaxx will finish him..

Finally every one is beginning to see what I have been saying .. Every thing in that zoo Kenya is fvcking fake and cooked..All stat is a facade influenced by their stupid policticians to cover things on ground..They are just like Rwanda if not worse..Rvp is quick to point hand and shout cooked.... when none of the countries on this thread can attempt the kind of fraud their politicians perpetuate....Wonder no more why they are more corrupt than nigerian... Wonder no more why their budget doen't reflect on their infastructures...I didn't know the KSHS was this valueless....
Fvck who borrows to support your currency...that Isa disaster.

samorobo:


Lol I am...vaxx will finish him..

Finally every one is beginning to see what I have been saying .. Every thing in that zoo Kenya is fvcking fake and cooked..All stat is a facade influenced by their stupid policticians to cover things on ground..They are just like Rwanda if not worse..Rvp is quick to point hand and shout cooked.... when none of the countries on this thread can attempt the kind of fraud their politicians perpetuate....Wonder no more why they are more corrupt than nigerian... Wonder no more why their budget doen't reflect on their infastructures...I didn't know the KSHS was this valueless....
Fvck who borrows to support your currency...that Isa disaster.

gallivant:


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

rvp2018:
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.

Problemkid1:
Vaxx no dey ever gree ooh I no know which kind piking be that for Pete's sake anyway let me keep watching the show it's very very interesting Kenya is a shitthol but they don't want to accept. That's why poverty is increasing everyday in that glorified shitthol

vaxx2:
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 ...

Kennyswagz2:
black and white stripes in Dubai?

rvp2018:
You can fake something for 30yrs. Kenya has never been bankrupt. About 10yrs you were so bankrupt - you had all debts - forgiven by Paris Club - and now you're heading straight into another bankruptcy.

And we cannot fake pictures and videos of Kenya.

rvp2018:
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.

samorobo:



Lol is this coming from a kenyan that usually repeat a district oftenly....

The infastructure are world class....oh I get it

samorobo:



I can bet my middle finger that they are tampering with their poverty figures..,.

Stupid zoo

samorobo:



I can bet my middle finger that they are tampering with their poverty figures..,.

Stupid zoo

gallivant:


It's not Lagos Nigeria, ask Sammy.

Just30:
Everyone trust such a currency because they know that it is transparent , stable, and predictable

not one that they will wake up one morning and interest rate has been capped, wake up the next morning and the value of the currency has jumped without any economic explanation.

Now that Ghana has built a positive trade balance, she is seeking to grow that trade balance
by seeking to increase her export values.

This is what will keep the cedis stable for a very long time.
Now Ghanaian exporters can sell their goods internationally at a cheaper rate.

Shma:
lol! Why are you projecting your failures to us. Nigeria is the only zoo poverty stricken nation we know. You guys need to learn from your father Ghana to change.

Just30:
no one is disputing the fact that Ghana has gone through an economic crisis and is back.

The accusation that your currency is artificially pegged to the dollar whiles your inflation is capped are factual

Those depreciation patterns correspond with your debt increment patterns as you struggle to keep it under control before all the cards come tumbling down.

Just30:
by borrowing to support the currency
Caping inflation means that inflation cannot expose them until national revenue can no longer support debt repayment.

then they will turn to borrow new to pay old debts
Debt substitution program.