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Nigeria: Thrown into Chaos and a State of Civil War: The Role of the IMF
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essyk
#41 Posted : Sunday, May 20, 2012 6:19:47 PM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
Quote:
Some of the people in Turkana are fishermen, ever heard of a fish processing plant there?


Quote:
Which processing plant are you talking about? I really hope you are not talking about the FAILED kaalokol project??



Total Communication Breakdown!!





"The true measure of a man is how he treats someone who can do him absolutely no good.
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Sufficiently Philanga....thropic
#42 Posted : Sunday, May 20, 2012 8:31:52 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
essyk wrote:
Quote:
Some of the people in Turkana are fishermen, ever heard of a fish processing plant there?


Quote:
Which processing plant are you talking about? I really hope you are not talking about the FAILED kaalokol project??



Total Communication Breakdown!!






Ever wondered why guys dont take time to read and understand? It even gets worse when one gets emotional and abusive!
Sad!!
@SufficientlyP
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essyk
#43 Posted : Sunday, May 20, 2012 9:23:55 PM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
embarrassing
"The true measure of a man is how he treats someone who can do him absolutely no good.
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Djinn
#44 Posted : Monday, May 21, 2012 1:54:13 PM
Rank: Elder

Joined: 11/13/2008
Posts: 1,565
a4architect.com wrote:
@young..with the 3 refineries, why do you still import petrol and diesel? Are the refineries working under-capacity?


also one would think that after 32 years Nigeria would build more refineries perhaps? Last one in 1980?
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a4architect.com
#45 Posted : Monday, May 21, 2012 6:17:53 PM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Africa/Nigeria/Kenya should learn from Argentina on how to deal with the Worldbank/IMF.
In 2001, Argentina defaulted on Worldbank debt.
African leaders have a misconception that life is unbearable without Worldbank-all they do is beg for more..

http://www.reuters.com/a...d-idUSN1E7791TO20110810

Ten years later, Argentina has become the 3rd largest economy in Latin America
http://en.wikipedia.org/wiki/

Economy_of_Argentina

Quote:
The economy of Argentina is Latin America's third-largest,[16] with a high quality of life and GDP per capita.[17] An upper middle-income economy,[18] Argentina has a firm foundation for future growth for its market size, the levels of foreign direct investment, and percentage of high-tech exports as share of total manufactured goods.[19]


http://www.businessweek....-from-argentinas-default
As Iron Sharpens Iron, So one Man Sharpens Another.
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murchr
#46 Posted : Monday, May 21, 2012 6:29:29 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
a4architect.com wrote:
Africa/Nigeria/Kenya should learn from Argentina on how to deal with the Worldbank/IMF.
In 2001, Argentina defaulted on Worldbank debt.
African leaders have a misconception that life is unbearable without Worldbank-all they do is beg for more..

http://www.reuters.com/a...d-idUSN1E7791TO20110810

Ten years later, Argentina has become the 3rd largest economy in Latin America
http://en.wikipedia.org/wiki/

Economy_of_Argentina

Quote:
The economy of Argentina is Latin America's third-largest,[16] with a high quality of life and GDP per capita.[17] An upper middle-income economy,[18] Argentina has a firm foundation for future growth for its market size, the levels of foreign direct investment, and percentage of high-tech exports as share of total manufactured goods.[19]



Defaulting is not the only way out. The best is to make sure when you are negotiating you get a rate that is favorable and ensure that the money is circulating in the local economy. Leadership played a very key role in Argentina.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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a4architect.com
#47 Posted : Monday, May 21, 2012 6:38:03 PM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Economists..was this new 600milion USD loan competitive?

http://news.yahoo.com/ke...4-75-pct-095708760.html

NAIROBI (Reuters) - Kenya plans to start negotiations on a sovereign bond after agreeing to borrow $600 million in a debut two-year syndicate loan from foreign creditors at an interest rate of 4.75 percent above Libor, the finance minister said on Tuesday.

The loan, which replaced a planned Eurobond and is meant to substitute nearly half of a 119 billion shillings local borrowing target for the 2011/12 (July-June) fiscal year, would go towards ongoing infrastructure projects, officials said.

Treasury said in April it had postponed the Eurobond to the 2013/14 fiscal year, and analyst said the success of the syndicate loan was a good pointer at the ability of the biggest economy in east Africa to access the global financial markets.

Kenya is rated B+ by Standard & Poor's and Fitch.
As Iron Sharpens Iron, So one Man Sharpens Another.
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murchr
#48 Posted : Sunday, June 03, 2012 6:07:51 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
young wrote:
Folks, this arguements do not make sense as it half truths and hearsay, you are basing you arguement on what you read and believe and not the reality.
How much of Nigeria or west africa do you know? Is it just sitting in Nairobi to read stories about a place that makes you informed and up to date about the happenings in other parts of Africa ? That is mostly what most of you folks in Kenya do.

For your info Nigeria has 3 refineries:-

Kaduna establised in 1980
Warri established in 1978
Port Harcourt Established in 1965.

That is my final word on this as there is no need participating in blind arguement.

http://en.wikipedia.org/..._oil_refineries#Nigeria


Best Regards



Is this woman lying? Watch this
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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tony stark
#49 Posted : Monday, June 04, 2012 1:56:55 PM
Rank: Veteran

Joined: 7/8/2008
Posts: 947
a4architect.com wrote:
Economists..was this new 600milion USD loan competitive?

http://news.yahoo.com/ke...4-75-pct-095708760.html

NAIROBI (Reuters) - Kenya plans to start negotiations on a sovereign bond after agreeing to borrow $600 million in a debut two-year syndicate loan from foreign creditors at an interest rate of 4.75 percent above Libor, the finance minister said on Tuesday.

The loan, which replaced a planned Eurobond and is meant to substitute nearly half of a 119 billion shillings local borrowing target for the 2011/12 (July-June) fiscal year, would go towards ongoing infrastructure projects, officials said.

Treasury said in April it had postponed the Eurobond to the 2013/14 fiscal year, and analyst said the success of the syndicate loan was a good pointer at the ability of the biggest economy in east Africa to access the global financial markets.

Kenya is rated B+ by Standard & Poor's and Fitch.


so 4.75% is uncompetitive while 16% on T bills is competitive??
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YesuWangu
#50 Posted : Monday, June 04, 2012 2:43:52 PM
Rank: Elder

Joined: 8/11/2010
Posts: 1,588
murchr wrote:
a4architect.com wrote:
Africa/Nigeria/Kenya should learn from Argentina on how to deal with the Worldbank/IMF.
In 2001, Argentina defaulted on Worldbank debt.
African leaders have a misconception that life is unbearable without Worldbank-all they do is beg for more..

http://www.reuters.com/a...d-idUSN1E7791TO20110810

Ten years later, Argentina has become the 3rd largest economy in Latin America
http://en.wikipedia.org/wiki/

Economy_of_Argentina

Quote:
The economy of Argentina is Latin America's third-largest,[16] with a high quality of life and GDP per capita.[17] An upper middle-income economy,[18] Argentina has a firm foundation for future growth for its market size, the levels of foreign direct investment, and percentage of high-tech exports as share of total manufactured goods.[19]



Defaulting is not the only way out. The best is to make sure when you are negotiating you get a rate that is favorable and ensure that the money is circulating in the local economy. Leadership played a very key role in Argentina.


Defaulting is one of the many things that happens when the 'leadership' you are talking about took decisive measures.

Continuing negotiations that landed you in the hot soup will yield nothing much not matter how sincere they are.

Ask the Greek today. Their current status is being likened to the Argentinians in 2001 who, among other things, intentionally defaulted and they have surely paid for it. The numbers are impressive.
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