The Ghana Chapter of the Cocoa Farmers Alliance of Africa (CFAA) has commended the Ministry of Finance for exploring local measures in solving the challenges plaguing the cocoa sector.
It dismissed suggestions in some quarters, particularly from the Minority, that Ghana should seek a bailout from the International Monetary Fund (IMF) over the challenges.
“We appreciate the government’s effort in managing the economy, which has supported the Ghanaian Cedi and contributed to reducing inflation to a single digit,” a press release signed by member Mark Ewusi Arkoh noted.
“As cocoa farmers, we recognise our duty to ensure our prices reflect global competition, contributing to the long-term sustainability of the industry.”
This follows a Cabinet decision on Thursday to reduce the price of each 64kg of cocoa from GH¢3,625 to GH¢2,587, amid a number of measures announced by the Minister of Finance, Dr Cassiel Ato Baah Forson.
The Finance Minister’s announcement was followed by a press conference by the Minority.
“We take note of calls by the Minority in Parliament for government to seek IMF intervention.
“We, the Cocoa Farmers Alliance of Africa (CFAA), Ghana Chapter, categorically state that such calls are unacceptable and must be totally ignored.
“Ghana must find home-grown solutions to its economic challenges, not rely on external crutches.”
