Majority of Cocoa farmers in the Oti Region are struggling cocoa beans and suffering to find markets for their produce since the licensing buying companies are stressed to raise funds from the financial institution and government financial instruments for the purchase of cocoa beans is not forth coming
This has leads to the smuggling of the cocoa bean into the boarder towns in the area is on the increase to help these farmers to make some gains to fight the economic hardship in the area they are going through.
The Member of Parliament for Beum Hon. Kofi Adams said this on Adekyee Mu Nsem morning show on Ahotor FM and hosted by Citizen Kofi Owusu in Accra.
He is of the view that, major financial facilities cocoa farmers have enjoyed in the past through licensing companies for ready markets for their produce has been destroy through corruption and mismanagement of the Ghana Cocoa Board.
He reiterated that , the success story and the best structured put in place in the past by the National Democratic Congress Government has been destroy by the New Patriotic Party Government through ineffective management of the cocoa sector and corruption associated with all the loan facilities meant for the sector has been mismanaged and has left the sector to suffer and making life very difficult for cocoa farmers in the Oti region.
Touching, on the International Monetary Fund disbursement of $600m as “Ghana’s economic performance has been marked by significant volatility over the years”.
He opined that most recently, severe external shocks compounded pre-existing fiscal and debt vulnerabilities, leading to acute economic and financial pressures in 2022.
While the government authorities’ efforts to reorient macroeconomic policies, restructure debt, and initiate wide ranging reforms are already generating positive results, with growth more resilient than initially envisaged, inflation declining, the fiscal and external positions improving, and international reserves increasing.
“Fully and durably restoring macroeconomic stability and debt sustainability and fostering higher and more inclusive growth require steadfast policy and reform implementation.
The government ‘s plans to further reduce deficits by mobilizing additional domestic revenue and streamlining expenditure and to finalize its comprehensive debt restructuring are critical to underpin debt sustainability and ease financing constraints. Continued efforts to protect the vulnerable and to create space for higher social and development spending are also key.
This Hon. Kofi Adams said the government has delay in addressing this self-inflicting economic hardship on Ghanaian s through mismanagement and corruption. Above all high taxes across board on all social and essential services is making life very difficult for Ghanaian s to make ends meet.
AYM Kukah: E:mail:kukahalexander7@gmail.com
