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It is almost impossible for COCOBOD to default in repaying loans – Redd Intelligence

Ghana Cocoa Board COCOBOD Ghana Cocoa Board

Thu, 22 Sep 2022 Source: www.ghanaweb.com

An international research firm, Redd Intelligence, has expressed optimism over the Ghana Cocoa Board (COCOBOD)’s ability to repay its loans.

According to a myjoyonline report, Redd Intelligence believes that COCOBOD cannot default.

COCOBOD still has the credibility to attract international banks to its annual one-year pre-export finance (PXF) or otherwise the Cocoa Syndicated Loan.

Founder of Kleos Advisory, Tedd George, said, “defaulting on Cocobod’s flagship financing is almost impossible.”

“It’s a low-risk African agricultural asset that you want on your books,” he is quoted by myjoyonline.com.

COCOBOD has never defaulted on its syndicated facilities since 1992.

Tedd George stated that Ghana’s government is likely to prioritize the payment of the loan before it repays the IMF.

“The government will do everything in its power to get the facility repaid. It might even repay [COCOBOD] before it repays the IMF, and the IMF might even support this,” he added.

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Source: www.ghanaweb.com
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