Urgent Action Required: Auditor General's Recommendations for Bank of Ghana on COCOBOD Debt
Monday, 29 July 2024, 06:09
Overview of the Debt Situation
The Auditor General has identified GH₵8.241 billion as the outstanding debt owed by COCOBOD to the Bank of Ghana. This substantial figure raises concerns about the financial health of quasi-government institutions.
Recommendations for the Bank of Ghana
- Institute Policies to minimize exposure to these entities.
- Develop Clear Repayment Plans for loans that are due.
- Ensure regular monitoring and adjustments in response to changing financial conditions.
Conclusion
Addressing this debt issue not only enhances the stability of the Bank of Ghana but also strengthens the entire financial framework involving quasi-government institutions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.