Finance Minister has vindicated Minority on COCOBOD’s syndicated loan

The Member of Parliament (MP) for Asunafo South, Eric Opoku, says the Finance Minister, Dr Mohammed Amin Adam’s contradiction of the Ghana Cocoa Board’s (COCOBOD) self-financing claims for the upcoming 2024/2025 crop season has vindicated the minority.

This follows the minority’s earlier criticism of COCOBOD over its decision to transition to self-financing for the 2024/2025 cocoa crop season, starting in September 2024.

In a statement dated Wednesday, August 21, Minority Leader Dr Cassiel Ato Forson argued that COCOBOD lacks creditworthiness and described its decision as “false, unmeritorious, contrived, and face-saving.”

Mr Opoku told Nana Tuffour Boateng in an interview on Eyewitness News on Citi FM on Thursday that “The position articulated by the finance minister vindicates the minority, the Chief Executive was being economical with the truth that has been demonstrated by the minister.”

“We are in a difficult situation, and we wanted the Chief Executive to be candid to the good people of Ghana, but he was economical to the truth. The actual truth is that Ghana is now sourcing funding from the international market.”

“We are now pursuing the syndicated facility; we are still in negotiations with the lenders. We have never taken that bold decision to stop that activity. We are pursuing it vigorously.

“So, the Chief Executive shouldn’t have been economical with the truth. He shouldn’t have lied to the good people of Ghana,” he stated.