The Ghana Cocoa Board (COCOBOD) on Friday, January 20, defaulted on the payment of its 182-day bill, unilaterally rolling over GH¢940 million of debt. This is the first time the Board has defaulted on its short-term obligations since the bills were introduced by the Bank of Ghana (BoG) in 2002.
The B&FT’s interactions with markAs at press time, COCOBOD was yet to provide an official response for the move.et actors indicate that investors were initially credited with their dues, for the bills which were issued on July 21, 2022, and matured on January 19, 2023, only to have the credit reversed without prior notice, leaving investors very perplexed.
The development comes as apprehensions over the Domestic Debt Exchange Programme (DDEP) are rife, with investors already re-considering their portfolio mixes.
