An Economic analyst is making a strong case for the Ghanaian team for the IMF negotiation to request for a programme that is geared towards developing the country’s cocoa industry.
The team from IMF is expected in the country by end of this week to begin negotiationsfor a bailout programme for Ghana.
Economic analyst Dr Daniel Seddoh speaking to Citi Business News argues there is enough evidence to prove that Cocoa still holds a key to getting the country back to its winning ways and hence should be the focus area in the negotiation.
“We need help but we do not need help for consumption. We need help in productive areas. Those things that when we do will generate a lot more activity. And so our priority as a people is to look for help in the cocoa sector, because it is one commodity that we have invested time and energy over the years and that is one thing that when we export, the proceeds come back into this country and goes back into the hinterland to everybody in the value chain to get some benefit unlike gold which we do not own. We own cocoa’.
he adds that ‘the first thing that we should be asking for is how they will help us ensure our productivity level is stepped up in the cocoa industry, then we can generate the volumes. We know prices have dropped, when prices drop, what we need to do is to step-up production and makeup for the price lost in volumes. So if we can get the cocoa sector sorted out properly, we should be making a headway.
It is also one item that could significantly work positively on our foreign exchange’.