even we know that by reading Ghana web in usa..So why would investors ignore that and not demand high interest rates..You are not America and able to get away with .25% rates!
even we know that by reading Ghana web in usa..So why would investors ignore that and not demand high interest rates..You are not America and able to get away with .25% rates!
Kwame 10 years ago
How could you have secured 8.125% coupon to redeem a bond of 8.5%. It doesn't make sense. How could this Govt. run the economy like that? Why have they destroyed the economy?
How could you have secured 8.125% coupon to redeem a bond of 8.5%. It doesn't make sense. How could this Govt. run the economy like that? Why have they destroyed the economy?
Kwame 10 years ago
How could you have secured 8.125% coupon to redeem a bond of 8.5%. It doesn't make sense. How could this Govt. run the economy like that? Why have they destroyed the economy?
How could you have secured 8.125% coupon to redeem a bond of 8.5%. It doesn't make sense. How could this Govt. run the economy like that? Why have they destroyed the economy?
Repugnant. 10 years ago
We all mistrusted Kufuor for nothing. Now we have these village, erratic, poverty of the imagination hoodlums completely destroying our country.
We owe you a big time apology Honorable, Dr. John Kufuor, no ambuscading of y ... read full comment
We all mistrusted Kufuor for nothing. Now we have these village, erratic, poverty of the imagination hoodlums completely destroying our country.
We owe you a big time apology Honorable, Dr. John Kufuor, no ambuscading of your good deeds shall indeed ever work! "This revenge of myth" has shown how cognitively intelligent and imaginative you actually are.
Ghana our beloved country is in dire need of attention directed inward. Impeach Mahama, this psychopathy is unsustainable.
GREAT NANA ANTWI 10 years ago
ARE YOU IN NEED OF A FAST POWERFULL SPIRITUALIST?THEN google or go TO www.greatnanapowerfullspiritualist.blogspot.com
ARE YOU IN NEED OF A FAST POWERFULL SPIRITUALIST?THEN google or go TO www.greatnanapowerfullspiritualist.blogspot.com
ADWEN 10 years ago
It is obvious that Mahama and his useless NDC team don't understand what they are doing. They are messing up Ghana and the Ghanaian economy big time.
1. How do you borrow at 8% to pay off 6% debt you own? It means you are go ... read full comment
It is obvious that Mahama and his useless NDC team don't understand what they are doing. They are messing up Ghana and the Ghanaian economy big time.
1. How do you borrow at 8% to pay off 6% debt you own? It means you are going to pay more and worsening your situation.
2. Because Mahama's penchant to amass wealth as much as possible within his time in government, he doesn't care WHEN and WHAT could lead him to that. TIMING is very import in some of these borrowing situations. If the have timed this borrowing appropriately the could have saved Ghana about $100 million. One investor put it mildly thus, ""What alarmed us as investors is the fact that the timing was bad," said the investor, who declined to be named. "Based on our analysis, the opportunity cost loss is at least $100 million on a net present value basis. That's four district hospitals if you want it in social terms". This shows how inexperienced the Finance Minister is, local experience alone in this complex finance jungle is not enough.
3. Economic and fiscal mismanagement also accounted for the high coupon rate, so Mr Tekper (Finance Minister) and Mr Woampah (Bank of Ghana Governor) are deceiving Ghanaians and themselves when they sad Ghana country risk resulting from fiscal and economic mismanagement were not factored into the high interest rate, when the said "Terkper and central bank Governor Henry Kofi Wampah played down any impact of the macroeconomic picture on the bond yield and said external factors accounted for any premium. "We cannot say the coupon rate we paid was based on Ghana's risks. It's primarily about the unfavourable general conditions globally,"
4. Mahama and his NDC cohort have pushed Ghana to near bankruptcy if Ghana has public debt of 50% of GDP as one analyst observed ". Public debt increased to 49.4 percent of GDP in 2012, from 40.8 percent in 2011, higher than peers such as Nigeria which has a debt-to-GDP ratio of 18.6 percent. This excludes this Eurobond $1 billion and the Chiness Loan $3 billion.
What can they show for all theses debts? GYEEDA, SADA, RLG, Aircraft hangers? Dumsor Dumsor (errati electricity power supplies), water supply shortage, poor hrlth delivery, schools under trees, name them.
Musah 10 years ago
ADWEN, please educcate yourself before coming to spew out garbage. The Bonds were sold at higher rate and not the 6%. Any holder of such bond will continue to receive circa 8.5% interest on it until he sells it. The current r ... read full comment
ADWEN, please educcate yourself before coming to spew out garbage. The Bonds were sold at higher rate and not the 6%. Any holder of such bond will continue to receive circa 8.5% interest on it until he sells it. The current rate of 6% is the yield having taken into account time to maturity, etc.
Concerned 10 years ago
Another person who not only fails to see reason, but will turn around and insult someone for saying the truth. You must work in the same office as Seth Terkper.
The previous bond had a yield of ~6%. The current bond has a ... read full comment
Another person who not only fails to see reason, but will turn around and insult someone for saying the truth. You must work in the same office as Seth Terkper.
The previous bond had a yield of ~6%. The current bond has a yield of ~8%. Even Reuters know the higher yield was because of the poor economic outlook of Ghana, but the BOG says "We cannot say the coupon rate we paid was based on Ghana's risks. It's primarily about the unfavourable general conditions globally,"
This sounds like when the minister of agriculture said this about the decline in cocoa last year "He blamed the development, nonetheless, on strict adherence to international protocols Ghana has subscribed to."
No sense of responsibility, quick to make stupid excuses. If we don't admit the problems, how are we to solve them?
ADWEN 10 years ago
First of all thanks Concerned for explaining the basics to Musah who sounded like a typical Ghana who thinks because he has got a degree he knows everything. His explanation shows that he has no experience at all on what he i ... read full comment
First of all thanks Concerned for explaining the basics to Musah who sounded like a typical Ghana who thinks because he has got a degree he knows everything. His explanation shows that he has no experience at all on what he is talking about. These are the calibre of people we have managing serious institutions in Ghana.
Musah, know that this is what I do for living not in Ghana but in the financial capital of the world where if you manage even a company like how your Finance Minister and Mahama are managing Ghana fiscally and financially you will be fired and/or imprisoned overnight.
Musah know that whoever issues the Bond is liable to pay the holders so if initially you have issued a bond paying 6% and you re-issue another bond pay 8% to replace the 6% bond like Tekper and Mahama have done, then they are heaping more debts on Ghana. It seems you and your NDC cohorts don't know that you are doing as a result you are only experimenting on Ghana deteriorating the economy of Ghana. You and your NDC cohorts need education in practical Finance that I can offer freely to the NDC finance team.
James Armah ACCA,FAIA 10 years ago
Does the Finance Minister Seth Terkper know what is doing? I have never trusted the so called Chartered Accountants of most of these African countries especially CA(Ghana) etc.. They never have the CLOUT. The good accountants ... read full comment
Does the Finance Minister Seth Terkper know what is doing? I have never trusted the so called Chartered Accountants of most of these African countries especially CA(Ghana) etc.. They never have the CLOUT. The good accountants are CPA, ACA(EW) ACCA, AIA, ACA(S)CIMA, IFA, ACA(I)and few the rest are " half bred accounting technicians
oppong london 10 years ago
after 4 useless years of ndc under jea mills and john mahama,s administration and mahama ,amissa arthur,what,s left now?the next thing is to sell the people of ghana,yes i believe we are even already sold to the british,usa , ... read full comment
after 4 useless years of ndc under jea mills and john mahama,s administration and mahama ,amissa arthur,what,s left now?the next thing is to sell the people of ghana,yes i believe we are even already sold to the british,usa ,germany,canada ,france etc,etc,because nothing better to do at home under ndc,ghanaians are cursed rather than boasting ourselves ,we are blessed,we are blessed with gold,timber ,diamond,cocoa and petroleum.with ndc ghana is under a big curse with brainless ndc politicians.
The African Patriot 10 years ago
If you do have stupid and useless political leaders in the country, what do you expect? The illiteracy is also playing the a vast role to Ghanas worst development.
In any country there must be a heavy demonstration against ... read full comment
If you do have stupid and useless political leaders in the country, what do you expect? The illiteracy is also playing the a vast role to Ghanas worst development.
In any country there must be a heavy demonstration against the government its role. But rather unfortunately, those state institutions to guide right of the citizenry are playing their part to increase the situation.
What can one do?
Criminals everywhere in Ghana!!!!
GREAT NANA ANTWI 10 years ago
ARE YOU IN NEED OF A FAST POWERFULL SPIRITUALIST?THEN GO TO www.greatnanapowerfullspiritualist.blogspot.com
ARE YOU IN NEED OF A FAST POWERFULL SPIRITUALIST?THEN GO TO www.greatnanapowerfullspiritualist.blogspot.com
Okponglo Guy 10 years ago
Second gold and cocoa producer? Compare infrastructure in Ghana to South Africa. End of story
Second gold and cocoa producer? Compare infrastructure in Ghana to South Africa. End of story
even we know that by reading Ghana web in usa..So why would investors ignore that and not demand high interest rates..You are not America and able to get away with .25% rates!
How could you have secured 8.125% coupon to redeem a bond of 8.5%. It doesn't make sense. How could this Govt. run the economy like that? Why have they destroyed the economy?
How could you have secured 8.125% coupon to redeem a bond of 8.5%. It doesn't make sense. How could this Govt. run the economy like that? Why have they destroyed the economy?
We all mistrusted Kufuor for nothing. Now we have these village, erratic, poverty of the imagination hoodlums completely destroying our country.
We owe you a big time apology Honorable, Dr. John Kufuor, no ambuscading of y ...
read full comment
ARE YOU IN NEED OF A FAST POWERFULL SPIRITUALIST?THEN google or go TO www.greatnanapowerfullspiritualist.blogspot.com
It is obvious that Mahama and his useless NDC team don't understand what they are doing. They are messing up Ghana and the Ghanaian economy big time.
1. How do you borrow at 8% to pay off 6% debt you own? It means you are go ...
read full comment
ADWEN, please educcate yourself before coming to spew out garbage. The Bonds were sold at higher rate and not the 6%. Any holder of such bond will continue to receive circa 8.5% interest on it until he sells it. The current r ...
read full comment
Another person who not only fails to see reason, but will turn around and insult someone for saying the truth. You must work in the same office as Seth Terkper.
The previous bond had a yield of ~6%. The current bond has a ...
read full comment
First of all thanks Concerned for explaining the basics to Musah who sounded like a typical Ghana who thinks because he has got a degree he knows everything. His explanation shows that he has no experience at all on what he i ...
read full comment
Does the Finance Minister Seth Terkper know what is doing? I have never trusted the so called Chartered Accountants of most of these African countries especially CA(Ghana) etc.. They never have the CLOUT. The good accountants ...
read full comment
after 4 useless years of ndc under jea mills and john mahama,s administration and mahama ,amissa arthur,what,s left now?the next thing is to sell the people of ghana,yes i believe we are even already sold to the british,usa , ...
read full comment
If you do have stupid and useless political leaders in the country, what do you expect? The illiteracy is also playing the a vast role to Ghanas worst development.
In any country there must be a heavy demonstration against ...
read full comment
ARE YOU IN NEED OF A FAST POWERFULL SPIRITUALIST?THEN GO TO www.greatnanapowerfullspiritualist.blogspot.com
Second gold and cocoa producer? Compare infrastructure in Ghana to South Africa. End of story