William Adjovu (@wadjovu) 's Twitter Profile
William Adjovu

@wadjovu

ID: 2478885142

calendar_today12-04-2014 13:29:32

28 Tweet

22 Takipçi

496 Takip Edilen

Steve Hanke (@steve_hanke) 's Twitter Profile Photo

Ghana’s facing its lowest cocoa crop yield in 12 yrs due to drought & plantation damages by illegal gold miners. If that’s not enough, inflation is a sky-high 55.48%/yr. This confirms my School Boys Theory of History: It’s just one damn thing after another.bloomberg.com/news/articles/…

Landon | The Flippin' Millennial (@landonclost) 's Twitter Profile Photo

My uncle passed away from cancer when I was 16 years old. I’ve since spent 100’s of hours researching how to avoid and fight cancer naturally. Here’s what I found:

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

The President of Ghana has said there will be "no haircuts" on "Treasury bills or instruments" If so, speculators stand to make mass profit out of the people of Ghana. A buyer today of a $ bond maturing in 10 years will make 500% profit if paid in full🧵 bloomberg.com/news/articles/…

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/2 The price to buy $100 of a Ghanaian $ bond maturing in 2032 is currently less than $30. With annual interest payments of 8.125%, buying these bonds today, then getting paid the interest, and $100 in 2032, would earn over $150 - a 500% profit on the $30 spent today.

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/4 President Akufo-Addo's statement came as part of trying to stop the Cedi falling in value. This has partly been caused by rumours of a restructuring of Cedi denominated debt. But paying $ debt in full does not help with this - in fact it makes the situation worse.

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/5 The President also said Ghana's government external debt service would need to fall to 18% of government revenue by 2028. This is the IMF's threshold for being at high risk of debt distress. At its last projection in 2021, the IMF said this figure would be 35% in 2028.

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/6 It is impossible to cut the relative size of external debt payments in half by 2028, without a restructuring. It would require mass public spending cuts and tax increases, that would crash the economy, and ensure the target was not met.

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/7 On $ debt contracted by the end of 2020, Ghana is already due to pay $2.1bn in 2028. This is 15% of government revenue on IMF projections. This does not include payments on: - New borrowing from 2021 on, including the IMF loan - Cedi debt owned by external creditors

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/8 Of Ghana's $ debt and interest payments from 2022 to 2028: - 57% are to private lenders - 25% are to multilateral institutions - 18% are to other governments

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

/9 Ghanaian civil society organisations have called for there to be large scale debt cancellation, rather than IMF loans being used to fund mass profit for speculators, while the debt crisis worsens / ends #CancelTheDebt debtjustice.org.uk/press-release/…

tim-jones6.bsky.social (@tim_jones6) 's Twitter Profile Photo

One of the most outrageous bonds out there must be the $1bn lent to Ghana in 2015 at 10.75% interest with a $400m guarantee from the World Bank. A buyer of the bond in 2015 is already guaranteed to get $1.15bn. And they are still 'owed' $1bn, and $860m of interest payments / 🧵

Historic Vids (@historyinmemes) 's Twitter Profile Photo

Introducing Cheddar Man, a man from 10,000 years ago whose descendant is alive today. Cheddar Man refers to an early Mesolithic individual discovered in Gough's cave in Cheddar, England, back in 1903. He is believed to have met a violent end in his twenties. Through DNA analysis,

Introducing Cheddar Man, a man from 10,000 years ago whose descendant is alive today. Cheddar Man refers to an early Mesolithic individual discovered in Gough's cave in Cheddar, England, back in 1903. He is believed to have met a violent end in his twenties. Through DNA analysis,