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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe Ghanaian Parliament has taken a decision that does not surprise because it comes at the start of each new cocoa season. MPs approved a syndicated loan of $1.3 billion to finance the purchase of cocoa beans from producers for the 2022/23 season, which will start in early October.
Against a background of economic crisis, a balance of payments deficit approaching $1 billion, runaway inflation that reached 29.8% in June, a debt-to-GDP ratio of nearly 85%, and a Cedi that has lost Nearly a quarter of its value, Parliament approved a loan of $1.3 billion for the 2022/23 cocoa campaign.
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