COCOBOD And BoG Strike Deal To Roll Over Cocobonds | Business News



Prime officers of the Ghana Cocoa Board (COCOBOD) and officers of the Financial institution of Ghana (BoG) have reached an settlement to exempt particular person cocoa bondholders from authorities’s Home Debt Alternate Programme (DDEP) and to roll over cocobonds for one more 180 days.

The 2 establishments, COCOBOD and BoG, reached the settlement at a gathering on Friday (20 January 2023).

The assembly was additionally attended by managing administrators of banks who maintain cocoa bonds for particular person cocoa bondholders.

The transfer was to allay fears that holders of particular person cocobonds might be affected by the federal government’s debt trade programme.

There have been earlier media reviews that the federal government had rolled over cocoa payments maturing as we speak (20 January) with out the consent of buyers.

However sources on the assembly say it was made clear that COCOBOD holds sufficient liquidity to settle all particular person bondholders.

In keeping with the sources, the banks have been proven figures indicating that COCOBOD is effectively on target to fulfill and probably surpass the manufacturing goal for the yr: an estimated 850,000 tonnes of cocoa.

The federal government has this yr paid curiosity on two totally different bonds that matured on 3 January and 16 January, and the state is but to default on its short-term devices.

Supply: Asaaseradio



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