The Producer Price Review Committee (PPRC) on cocoa met today under my Chairmanship and agreed on a new Producer Price of cocoa for the 2014/2015 season which opens on Friday, 3rd October 2014.
The PPRC has reviewed upwards the producer price of cocoa from GH¢3,392.00 per tonne to GH¢5,520.00 per tonne for the 2014/15 cocoa season. As compared to the previous season, this amount represents an increase in price of GH¢2,128.00 per tonne or 62.74%. This figure translates into GH¢345 per bag of 64 kg gross which represents about 75 percent of the net FOB.
At the request of the Ghanaian authorities, an International Monetary Fund (IMF) mission led by Mr. Joel Toujas-Bemate initiated discussions on a possible program of economic reforms that could be supported by the IMF. The mission met with President Mahama; Vice-President Kwesi Amissah-Arthur; Dr. Kwesi Botchwey, Chairman of the National Development Planning Commission; Finance Minister Seth Terkper; Minister of Gender, Children and Social Protection Ms. Nana Oye Lithur; Bank of Ghana Governor Kofi Wampah; other senior officials, and representatives of the private sector, the donorcommunity and civil society.
New York Sept. 11, 2014 - Ghana has priced and will issue its third Eurobond of US$1.0 billion at a coupon rate of 8.125. The bond was oversubscribed with orders reaching up to US$3 billion. Like the two previous issues, this year’s bond attracted investors from Europe, the United States, Middle East and Asia. The bond is a soft amortizing bond, amortising in years 2024, 2025 and 2026 with principal repayment in three instalments of US$333 million in years 2024 and 2025, and US$334 million in 2026.
The Government of Ghana has taken note of the recent stories in the international and local media regarding its decision to open negotiations with the International Monetary Fund for assistance. While we appreciate the continuing interest of the media in Ghana's affairs, we wish to correct a few basic errors of fact in these stories.
The EU and Ghana have signed the 11th European Development Fund (EDF) National Indicative Programme (NIP) in the sum of €323 million spanning the period of 2014 to 2020. Ghana is among the 15 African, Caribbean and Pacific (ACP) member states that signed the NIP.