Constitutional Rights and Policy Strategy Advisor at Democracy Hub, Oliver Barker-Vormawor, has called for closer scrutiny of the government’s proposed reforms in the cocoa sector, warning that they could still lead to continuous debt accumulation if not carefully managed.
Speaking on Newsfile on JoyNews, Mr Barker-Vormawor said stakeholders must critically assess whether the new policies will genuinely address long-standing financial challenges at the Ghana Cocoa Board.
“So, going forward, we need to be able to assess the reforms that are being talked about, whether or not they do all of these things,” he said.
According to him, recent comments by Finance Minister Cassiel Ato Forson suggest that debt remains a central issue in the sector, raising concerns about the long-term sustainability of the reforms.
“One, the finance minister has spoken about the debt part. So, there’s still going to be continuous debt accumulation,” Mr Barker-Vormawor stated.
He pointed out that under the new approach, a significant portion of COCOBOD’s existing liabilities could be transferred to the central government, a move he said reflects a possible shift in how the state intends to manage cocoa sector financing.
“If the decision is that going forward, a lot of the debt that was on COCOBOD’s books will continuously now be shifted to the central government, then perhaps that gives an indication of maybe that’s how we want to do it,” he added.
His comments come amid ongoing public debate over government plans to restructure COCOBOD’s finances, move away from heavy foreign borrowing, and adopt domestic financing models through bonds and budgetary support.
However, Mr Barker-Vormawor cautions that without strict fiscal discipline and transparency, the strategy could simply relocate the problem rather than solve it.
He stressed that policymakers must ensure the reforms reduce overall debt exposure and improve efficiency, rather than create new risks for public finances.
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