The Ghana Cocoa Board (COCOBOD) has addressed inaccuracies regarding the repayment of a GH¢1.99 billion cocoa bill arranged between 2010 and 2013.
In a statement, COCOBOD clarified that, the debt was incurred during the tenure of the National Democratic Congress (NDC) government.
COCOBOD highlighted that due to the NDC’s inability to repay the bill, it was converted into a 10-year loan, with repayment initially set to begin in 2016. However, an extended moratorium delayed repayment until 2018.
COCOBOD emphasized that the challenges in repaying this loan were not influenced by the COVID-19 pandemic, as the repayment process commenced well before the outbreak in 2020.
Read the statement below:
Source: Adomonline