Says a man from a country who have gone belly up 16 times in 60yrs. Ghana goes bankrupt every 3yrs. You're only independent in name. If we were to cook data - we would have long defaulted. We won't have a city as good as Nairobi, Mombasa, Kisumu, Nakuru, Eldoret, Thika...all looks better than any Ghanian city.

Now when it come to Ghana....which is managed by IMF most of the time...what can you really tell us about macro-economics.

I see you've ran to micro-economics - even there - I doubt you'll have it good.

Nigeria and Ghana - despite all natural resources that God has blessed you with - you're still exporting modern slaves like you did in 15-17th century!!!

vaxx2:
You want me to read blog again ? Anyway you are lying ....This is from your central bank
....https://www.centralbank.go.ke/public-debt/
On going deeper to check your micro economics, Nigeria indeed is a paradise since Nigeria can comfortably look for more oil or scale up gas production and jump back to its foot. Your goverment is the greatest scammer of all. You are poor nation.

Actually Ghana is mini-NIgeria. Same dependency on commodities/minerals. What you urgently need is private sector that is well developed and diversified.

https://jubileedebt.org.uk/countries-in-crisis/ghana-debt-crisis-rooted-colonialism

This dependence on commodities was the central factor underlying a debt crisis which was common to much of the global South in the 1980s and 1990s. Global commodity prices fell at the start of the 1980s, rapidly increasing the size of foreign debt payments which could only be paid out of foreign earnings such as exports. As commodity producers across the world expanded production in order to pay debts, on the advice of the IMF and World Bank, commodity prices stayed low for over 20 years.

Problemkid1:
You this guy sef truly just30 is doing a good job exposing these kiberans. And am fully supporting them. I won't disturb just30 again

The 'giants' without a voice. At least now we know how Ghanains have managed to sit on your heads without much effort.

gallivant:


The 'giants' without a voice. At least now we know how Ghanains have managed to sit on your heads without much effort.

Sharaaaap the Ghanaians are exposing you criminals foolish galiipant

Kennyswagz2:
but ondo state alone produce more oil than entire SE

edo land and ijaw land ceeded to ondo, by your thief governors,
despite thag igbo land produses more oil than entire afonja can dream off
thats y afonja keep screaming one Nigeria,

nice pictures from Accra..

Kenya peeps keep posting and reposting same picture of Nairobi since the beginning of this thread

Ghana is indeed an IMF colony. This is very shocking. I mean in Kenya we had IMF running the shows in 90s and we told them to fu,ck off. We started making a budget that didn't factor aid. By 2002 I think Aid was down to 10% of budget...and by 2006 it was 1%...now it completely our own budget.

Imagine if IMF came and lectured kenya this century - I think they attempted to do that when parliament passed the interest rate capping - and Kenyans laugh them off to Washington DC. We told them to get out with their insurance funds and head to Ghana.

rvp20182:
I have give you a synopsis of our rate-capping experiment in another reply - as for cement - it's easy - we are talking cement because it's a pretty good indicator of development. So it's a pertinent issue.

My theory is our cement production & consumption tapered off due to interest rate-capping outprizing the real estate & construction from the credit market.

If you get me Ghana's cement consumption and production from say 2008 to 2018 - and we juxtapose them against kenya cement data for the same time period - we can see if my theory is right or wrong.

I am not betting on it. This is probably beyond your paygrade.

Your parliamentarian acted on emotional interest of the public which is very bad to the micro economics stability of your country.. Your parliamentarian rejected all economical fundamental and manage to romance the policy which back fire and hunt the progress of your nation so badly ....

The cement consumption rate of Ghana has exposed your nation has a less developed nation . the fundamentals of your economy rely heavily on debt servicing which is gulping down on your economy forcing it to spend less on social development but more on servicing debt and salaries . it is impossible for such country to trash down the poverty ratio...which stinkly stood at over 40 percent of your total population. meaning over 20 million Kenyans are very poor.... what a drastic index ....

it is stupid when you failed to know each quater of a financial year can change a whole lot of economy index. Ghana cement consumption rate expose your underdevelopment....And Ghana continue growth and rapid expansion proves that such rate is not stopping from any time soon .

gallivant:


The 'giants' without a voice. At least now we know how Ghanains have managed to sit on your heads without much effort.

Shuuuuushhh!!! Lower your voice we are not your problem now (atleast not for now) are we......Take your voice and go face your oppressors, or should I say tormentors, sorry it's definitely attackers

Did you know Ghana vision - Beyond Aid - actually had the picture of Nairobi as their vision 2050. Kenya actually been aid-independent around 2005 - so nice vision Ghanians.

“As if the issue of the President plagiarizing people’s speeches wasn’t bad enough, they have once again photoshopped a skyline from Nairobi and that’s what you see when you open the Ghana Beyond Aid document.”

Ttipsy:
nice pictures from Accra..

Kenya peeps keep posting and reposting same picture of Nairobi since the beginning of this thread

Sofistcatdmoron:

[s]edo land and ijaw land ceeded to ondo, bu your thief governors,
despite thag igbo land produses more oil than entire entire afonja can dream off
thats they keep screaming one Nigeria[/s],

Take your tribalism else were...on this thread one Nigeria remains

As Ghanian - please refrain from advising Kenya on anything serious - We can as well ask IMF for their help - something we swore not to do since 90s.

I will get to cement consumption very soon - I am going to be off the next 4 days.

So maybe next week we shall see.

vaxx2:
Your parliamentarian acted on emotional interest of the public which is very bad to the micro economics stability of your country.. Your parliamentarian rejected all economical fundamental and manage to romance the policy which back fire and hunt the progress of your nation so badly ....

The cement consumption rate of Ghana has exposed your nation has a less developed nation . the fundamentals of your economy rely heavily on debt servicing which is gulping down on your economy forcing it to spend less on social development but more on servicing debt and salaries . it is impossible for such country to trash down the poverty ratio...which stinkly stood at over 40 percent of your total population. meaning over 20 million Kenyans are very poor.... what a drastic index ....

it is stupid when you failed to know each quater of a financial year can change a whole lot of economy index. Ghana cement consumption rate expose your underdevelopment....And Ghana continue growth and rapid expansion proves that such rate is not stopping from any time soon .

The Ghana Revenue Authority missed its collection forecast by 9.7% in the first quarter, according to data released Monday on the website of the Finance Ministry. The fiscal deficit was 1.6% of gross domestic product for the period, against a targeted 1.4%, it said. The West African nation has fallen short of its budgeted revenue by 3.5 billion cedi ($656.4 million) over the past three years, with collections averaging only 13% of GDP, compared with 20% by its West African peers, it said.


From Bloomberg https://www.bloomberg.com/news/articles/2019-06-02/ghana-makes-staff-changes-at-revenue-agency-to-boost-collection

13% of GDP!


https://www.bloomberg.com/news/articles/2019-05-28/ghana-s-debt-at-the-highest-in-four-years-as-revenue-undershoots



Total debt was at $38.9 billion at the end of March, up 16% from a year earlier and the highest since at least March 2015, when the central bank started publishing these numbers in dollars. As a percentage of gross domestic product, debt rose to 58% in the month compared to 50% a year ago. More than half of that is external loans.

It a messed up economy. You can imagine this is after they re-based last year. It's worst than Nigeria. Initially they had debt to GDP of 78%. After they rebased it came down to less than 50% -IMF said 'Boys we think you can handle this? If anything happens you can always call us'- and 1yr later it's climbing to 58% - next year it will be 70% - and they will have to call IMF again. For the 17th bail out.

And then they will re-base again - borrow some more - and then call IMF.

Jonraid:

Total debt was at $38.9 billion at the end of March, up 16% from a year earlier and the highest since at least March 2015, when the central bank started publishing these numbers in dollars. As a percentage of gross domestic product, debt rose to 58% in the month compared to 50% a year ago. More than half of that is external loans.

rvp20182:
B and B+ - a gulf of difference. Kenya use to be B++ - they remove on + and it send alarms.

there is nothing like b++

rvp20182:
English comprehension is the least of your problems. It's the dearth of such critical data that is more concerning. Now we have to go by some student research. These are industry stats that are easily available in a functional country.

You are making too much noise

so now, those who do research on the issue are wrong ?

rvp20182:
Again when it come to macro-economics - you have it worse than Nigeria.

Kenya commercial external debt has risen because we have flouted two Eurobonds (6B dollars)

Here are Kenya external debt register - as of Sept 2019.

and Ghana has floated one this year
for 3 billion dollars and it was oversubscribed by 20billion dollars

A 'MARGINALLY' story yet again!

Kenya’s debt to GDP ratio shrinks marginally - IMF report

When it comes to money matters,margins do matter!

https://www.the-star.co.ke/business/2019-05-30-kenyas-debt-to-gdp-ratio-shrinks-marginally-imf-report/

Jonraid:
Can they show their debt books in public for all to see?

we dont have a public debt book

though those infos are now public documents that can be obtained from the BOG and Finance ministry.

rvp20182:
They don't any stats. It very shocking. If you think Yemi Kale is bad - try Ghana. I have gone through their Ghana Stats website. There is such awful lack of data.

you are funny



there is enough data obtainable
fact that you are unable to access them does not mean they dont exist.

We also get oversubscrpitions. No one should cheer that!

Just30:
and Ghana has floated one this year
for 3 billion dollars and it was oversubscribed by 20billion dollars

You took my tweet literally!

Just30:
we dont have a public debt book

though those infos are now public documents that can be obtained from the BOG and Finance ministry.

rvp20182:
I see the ratio of insults versus polemic is getting better - but there is still a dearth of facts.

Modern democratic gov like Kenya has
1) Independent parliament - that amended the law introducing interest rate capping after popular demand from citizens.
2) The executive - led by the president - who for expedient reasons (the election was in 2017) did not veto the law despite Treasury advice.
3) Independent institutions like Central Bank of Kenya - who opposed the rate capping - and went to court.
4) Independent Judiciary - that for example annualed 2017 presidential election - 1st in Africa - and also declared the rate capping unconstitutional for interfering with Central Bank mandate to manage the macro-economics of the country- and gave Parliament one year to make the neccesary changes.

Now that rate-capping has been done away - risky sectors like real estate that had been outprized - will now be able to borrow at 16% instead of 13% - and the money will flow again to the sector. We also have huge housing agenda - with intention to build 0.5M housing units.

IMF had two main issues with kenya - rate-capping (history now) - and our GDP to debt (we were pilling debt - deficit bla) - and we are sorting that - because we are no longer leveraging - but mostly debt-refinancing.

We are far from calling for IMF bail out. In fact if IMF gives us the 1.5B dollars - it very unlikely we will ever withdraw it - our economic fundamentals are good.

As regarding to Ghana - what share of minning and oil (extractive industry) in your GDP? Answer without lacing it with insults.

We can be friends you know - this is about Ghana a country - not your mother. So don't personalize it

spare me the thrash, ,policy and laws governing micro and Marco economies are passed in parliament based on informed judgement which set across country budget , financial stability and current revenue .... laws aren't passed blindly . your parliamentarian were too deluded to foresee what such policy will have caused. You can imagine the retrenchment in social development ....

Your 1.5 billion agreement was recently abrogated when IMF found that you are a mess ....

Jonraid:
The debt decreased marginally,marginally!

so your public debt is 60 billion dollars

rvp20182:
Says a man from a country who have gone belly up 16 times in 60yrs. Ghana goes bankrupt every 3yrs. You're only independent in name. If we were to cook data - we would have long defaulted. We won't have a city as good as Nairobi, Mombasa, Kisumu, Nakuru, Eldoret, Thika...all looks better than any Ghanian city.

Now when it come to Ghana....which is managed by IMF most of the time...what can you really tell us about macro-economics.

I see you've ran to micro-economics - even there - I doubt you'll have it good.

Nigeria and Ghana - despite all natural resources that God has blessed you with - you're still exporting modern slaves like you did in 15-17th century!!!

apart from the 90s Ghana has never gone bankrupt

Jonraid:
Our detractors are waiting for Kenya Airways to die!

African most improved airline of the year in terms of increasing Inter-African connection.

Kenya Airways!

There was an excellent citizen tv interview with Mikosz and Joseph breaking things down from the 1st anniversary of the NY route which has carried a 100k passengers,the soft power and economic benefit of a global airline,nationalisation and real threats from Rwandair and ET! The latter was smaller than KQ just 10 years back. Now they've over double our fleet size.
The biggest takeaway from the one hour + interview was nationalisation will lower costs while we need a training centre that will cost under 30 mn$. The gov and parliament must act not just talk and push on with nationalisation.

rvp20182:
As Ghanian - please refrain from advising Kenya on anything serious - We can as well ask IMF for their help - something we swore not to do since 90s.

I will get to cement consumption very soon - I am going to be off the next 4 days.

So maybe next week we shall see.

Who are you fooling ? You were on credit fercility with IMF last year to the tune of 1 billion dollar . it was terminated based upon your poor rating , it isn't just about removing interest cap. you also need to increase your revenue so as to maintain yoir debt levels sustainability. You can't seriously expand social development in this manner Your tax to revenue shortfall need a medical solution. Your apettitie of debt should be curtail. your economy outlook don't support too much borrowing.


China debt is not something we can talk about since your cash book didn't capture it.

rvp20182:
Says a man from a country who have gone belly up 16 times in 60yrs. Ghana goes bankrupt every 3yrs. You're only independent in name. If we were to cook data - we would have long defaulted. We won't have a city as good as Nairobi, Mombasa, Kisumu, Nakuru, Eldoret, Thika...all looks better than any Ghanian city.

Now when it come to Ghana....which is managed by IMF most of the time...what can you really tell us about macro-economics.

I see you've ran to micro-economics - even there - I doubt you'll have it good.

Nigeria and Ghana - despite all natural resources that God has blessed you with - you're still exporting modern slaves like you did in 15-17th century!!!

I personally told you running to IMF is not the problem cus they don't manage economy, They only gives advices....your country short tax to revenue which keep dwindling is something much more fitching and surprising that your national statistics may be cooking fake index . IMF failed to trust you....

kumasi alone is richer than the nation called kenya if property underground can be valued and traditional property..... You have no nation as far as I am concerned. Your non urbanized country that is hardly 24 percent can never be compared to Ghana that its village has almost turn to city..... poor country don't urbanized fast . your unemployment is alarming . Nigeria is a blessed nation.....

rvp20182:
Says a man from a country who have gone belly up 16 times in 60yrs. Ghana goes bankrupt every 3yrs. You're only independent in name. If we were to cook data - we would have long defaulted. We won't have a city as good as Nairobi, Mombasa, Kisumu, Nakuru, Eldoret, Thika...all looks better than any Ghanian city.

Now when it come to Ghana....which is managed by IMF most of the time...what can you really tell us about macro-economics.

I see you've ran to micro-economics - even there - I doubt you'll have it good.

Nigeria and Ghana - despite all natural resources that God has blessed you with - you're still exporting modern slaves like you did in 15-17th century!!!

Aiyayayya! I'll never accept stats from any W African country,Bleep not even Benin or Chad!? Imo,this is a reflection of their socioculture which many say was ruined by the slave trade. Their problems aren't so much economic but rooted in a negative psychology that's satisfied with image over substance-IIRC you said they never pay their loans while you were consulting for some SME.
They know it deep down-see how quick they are with mouth word salads of 'advice' trying to deflect from the issue-goddamm,Ghanaians!?

samorobo:
Watching video on Nairobi main CBD(not Westland or upperhill) just thought I should share a screenshot from the beautiful views from the city....hahahaha a whole cbd

that is riverroad nairobi
continue looking for nairobi videos to score points on nairaland

Just30:
you are funny



there is enough data obtainable
fact that you are unable to access them does not mean they dont exist.

Rvp is a Kenyan illiterate who study software engineer but failed to know how to source the internet for information. he has promised to get the cement statistics in the next four days . something very stupid....

Jonraid:
A 'MARGINALLY' story yet again!

Kenya’s debt to GDP ratio shrinks marginally - IMF report

When it comes to money matters,margins do matter!

https://www.the-star.co.ke/business/2019-05-30-kenyas-debt-to-gdp-ratio-shrinks-marginally-imf-report/

Kenya debt to GDP plays around 40-60..we start leveraging when we get to 40..and debt refinancing when we cross the redline.We can teach Ghana so many lesson in prudent financial management