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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) (6514587 Views)
Am I The Only One Whos Tired Of This Kenya Is Ahead Thread / Femi Adesina: "I Don't Lie, No Matter What"; Nigerians React / Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode (2) (3) (4)
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:29am On May 06, 2020 |
Update those figures with the latest GDP figures. Kenya's total debt as of Jan 2020 was around 60B dollars - with GDP of 95B (we had projected to 99-100B) - we are about 63% instead of 60%. That is when sirens bleep red - and they have been - and we are working on reigning on that. Note::Lower-middle-income country debt sustainability benchmark is 70 percent of GDP Now for Ghana - last year you were 40% - this year you shot past kenya to 65% - and now with COVID - I bet it's 70%. That is the definition of being CRAZY. Just30: 4 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:36am On May 06, 2020 |
keep dreaming Ghana is at 63% and 80% of Ghana's debt were spent on economic activities that can pay All the companies are repaying Ghana's debt.In actuality, Ghana government a 20% debt to GDP but since government used it leverage to borrow for companies those debt are also accounted unto them. Kenya GDP is 88 billion as to how u managed to sell the 99 billion idea, only you can tell. always massaging figures. The other problem with the IMF facility is it comes with disclosure requirements -that you disclose your debt sustainability stats. That might not be a good reading for KE. If it shows HIGH RISK, that comes with other repercussions. But an IMF program was needed like yesterday! rvp20182: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by jl115: 10:36am On May 06, 2020 |
rvp20182:I'm not surprised that it's sounds confusing to a software engineer however the concept is pretty simple. Secondly the WB icp survey was last done in 2017 not 2011. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:37am On May 06, 2020 |
Just read in the papers today that Kenya will spend 1/3 of it budget this year approx 908 billion to service debts. Of this, 463 billion is purely on interest and 445 billions on actual debt repayment. This's staggering and saddening. How did Kenya get here? And still adding more |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:39am On May 06, 2020 |
Kenya Budget on monies they dont have how do you live like that? |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:40am On May 06, 2020 |
Stop lying!! ICP was last done in 2011 and released in 2014. The ICP cannot keep up with economic dynamics - like the USD is doing - showing your sick economy almost immediately. The release of the 2011 ICP round results in 2014 was met with some disagreement among scholars, but a dominant view emerged that they represent an improvement over the 2005 round. The release triggered a revision of the international poverty line which was updated from $1.25 / day in 2005 PPPs to $1.90 / day in 2011 PPPs. The IMF also uses the resulting PPPs in its Quota subscription allocation, as does the UNDP in the calculation of the Human Development Report’s Human Development Index (HDI), and a number of the SDGs involve PPPs in their measurement. jl115: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by jl115: 10:41am On May 06, 2020 |
rvp20182:Go read your own source again mate As for the rest of your post it has 0 relevance |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:42am On May 06, 2020 |
"Kenya estimates debt-service costs will increase to 904.7 billion shillings ($8.3 billion) in the fiscal year that begins July 1, from 805.2 billion in the current year" Bloomberg |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:44am On May 06, 2020 |
In fact I checked - ICP 2017 - is just price survey There have only been two ICP - 2005 and 2011 https://datacatalog.worldbank.org/search/datasets?search_api_views_fulltext_op=AND&query=ICP+&nid=&f%5B0%5D=type%3Adataset&sort_by=search_api_relevance&sort_by=search_api_relevance 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:44am On May 06, 2020 |
According to the Latest revision forecast for debt service costs by Treasury : FY 19/20: 768.8 Billion [$ 7.2 Billion] FY 20/21: 904.7 Billion [$ 8.46 Billion] FY 21/22: 1.16 Trillion [$ 10.84Billion] FY 22/23: 1.15 Trillion. [$10.75 Billion] Kenya will be spending it entire revenue collected on debt servicing This is a bankrupt country |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:45am On May 06, 2020 |
Show me a link to ICP 2017. The world bank doesn't have it - maybe Azania Investment Analyst has it. There are price surveys done - here and there - but ICP are here. 2011 and 2005. That is how out-dated GDP PPP tends to get. https://datacatalog.worldbank.org/search/datasets?search_api_views_fulltext_op=AND&query=ICP+&nid=&f%5B0%5D=type%3Adataset&sort_by=search_api_relevance&sort_by=search_api_relevance jl115: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:47am On May 06, 2020 |
Kenya is not Ghana. We will borrow 7B and pay 7B. It calls debt re-financing. and we will ring-fenced our 21B dollars revenues for development and running gov. In the meantime, our economy is growing - and our revenues growing by near double-digit. So soon enough we will go into debt leveraging...we will be repaying say 10B dollars - and borrowing 15B. It called prudent public financial management - something ALIEN in your country Just30: 4 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:49am On May 06, 2020 |
rvp20182:of course you are not Ghana You are in a worse situation and desperate The Central Bank of Kenya (CBK) failed to raise enough in Treasury bill auctions in April to match maturing short-term debt as uncertainty over the coronavirus haunted investors. Your government can't even access local debt instrument 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:53am On May 06, 2020 |
There you go scrambling - find out how much interest CBK is dishing out. Ghana will not get there in 50yrs. Kenya base lending rate/mpr is 7%. So obviously investors will play ball....but treasury is not in hurry. But Ghana MPR rate is 14.5% And you hobbit - will get bank loan at 25% - or like Nigeria they will offer you a monthly rate of just 2% : While Kenya gov is borrowing domestically at 8% - Ghana break is borrowing twice at 16% or more HOBBITS - ya gat no brains. Just30: 4 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:56am On May 06, 2020 |
CBK is even praying that all interest payment seize They have order that pension payment stop. Your government is trying to use poor workers pension to pay debt interest rvp20182: Financial analysts say Kenya may require at least 2 years of debt relief to avert an economic crisis in the wake of the government’s shrinking revenue against the backdrop of COVID-19 pandemic. Kenya is exploring debt-relief options and considering a freeze of interest payments on pension assets to deal with the coronavirus pandemic according to Bloomberg |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 10:57am On May 06, 2020 |
CBK doesn't PAY gov debts. Treasury own the debt. CBK is the Treasury Bank. CBK is the gov banker. Your banker doesn't pay your debts. Treasury (Ministry of Finance) just instruct the CBK to issue Treasury bills or bonds at certain price...and Treasury will decide to accept or not...if it get offers. Just30: 4 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:59am On May 06, 2020 |
and it didnt get offers because kenyans are already pressed by poverty rvp20182: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 11:00am On May 06, 2020 |
Now you have no opinion of your own - now we have to listen to some financial analysts. We will be fine. We have reduced our budget from 33B to 30B - that 3B dollars cut will take of that stuff. We have cut the development budget by 2B dollars. Just30: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 11:00am On May 06, 2020 |
Kenya (is) at position 17 among POOREST countries in the world with..GDP Per Capita of $1,960.5 It is expected to fall further to position 15 in 2023 "The government borrowed like everything was going to be rosy. I doubt if China will offer..relief,".. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 11:02am On May 06, 2020 |
Dream on. Treasury are already pass their projected borrowing and just playing sweat. This was COVID period - they got 400M dollars https://khusoko.com/2020/04/12/9-year-treasury-bond-oversubscribed-by-114pct-central-bank-accepts-ksh-39bn/ Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 11:06am On May 06, 2020 |
I see you're into the quoting nonsense territory. Kenya is no 140 in GDP Per capita nominal. Ghana is 137 - and btw them is India and Nigeria. https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita And if this updated - I bet Kenya has overtaken Ghana Just30: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 11:08am On May 06, 2020 |
rvp20182: I'm not dreaming Kenya CBK couldn't raise Treasury Bills I didn't mention Bond https://www.businessdailyafrica.com/markets/marketnews/T-bill-auction-fails-to-raise-enough-cash-for-Sh104bn-maturities/3815534-5542620-ows5ulz/index.html The Central Bank of Kenya (CBK) failed to raise enough in Treasury bill auctions in April to match maturing short-term debt as uncertainty over the coronavirus haunted investors. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 11:09am On May 06, 2020 |
rvp20182:divide 88 billion dollars (9.5 Tr kshs) by whatever you pop is dumb dumb And Ghana GDP per cap is way above yours 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 11:10am On May 06, 2020 |
This was last week https://www.businessdailyafrica.com/markets/capital/Investors-horizon-shortens-as-91-day-paper/4259442-5535190-fefktqz/index.html Meanwhile Ghana was under lockdown. Kenya is HUMMING ALONG. Just30: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 11:11am On May 06, 2020 |
rvp20182: Stop being petty You a grown man, act like it You got a kid act like it Your kid allowed to be childish and stupid dont compete with him 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 11:11am On May 06, 2020 |
What is Ghana GDP today - 58B dollars I bet or less - divide by 30M - you're below 2,000 Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 11:14am On May 06, 2020 |
rvp20182:Anyway Ghana is not under lockdown The risk-free government paper are no longer RISK FREE. Kenya gov't is contemplating deferring payment of interest on maturing Treasury bills and bonds. This is simply a declaration of a default on domestic debt |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 11:16am On May 06, 2020 |
rvp20182:Ghana Nominal GDP is 68 billion Bringing our Nominal GDP per Cap to 2,300 plus dollars and PPP to 7,000 dollars plus |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 11:17am On May 06, 2020 |
SkyOne11:hey! Hey! watch the words at bolded. Please, we are allies with Ghanaians We want to use them to destroy these Kenyans Please, don't bash them abeg 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp20182: 11:17am On May 06, 2020 |
Check USD - Cedis and update yourself. Your GDP has dropped by I think 15%. that is what happens when you do a copy-paste lockdown for a month- 1 month GDP is 10% off. That is why nominal GDP is the gold standard...the dollar is a pretty good predictor of the global economy. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 11:23am On May 06, 2020 |
rvp20182: Ghana's GDP has not dropped by even a single percent 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by gallivant: 11:24am On May 06, 2020 |
Austine1213: When was the last time you saw pictures of Accra or Kumasi posted? Stop blowing hot air msanzi. 2 Likes |
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