The cedi is expected to see some significant stability as well as strengthen against major international currencies in the coming weeks.<\/p>\n
This follows the finalisation of the agreement for the 2 billion dollar cocoa syndicated loan for the 2013\/2014 cocoa season.<\/p>\n
Barring any last minute changes, partner banks to COCOBOD\u2019s syndicated loan will on Thursday 11 September,2014 sign the agreement to release funds for the purchase of cocoa beans.<\/p>\n
Cocobod had earlier announced it will seek 1.8 billion dollars this year for its syndicated loan.<\/p>\n
However finance minister Seth Tekper later announced this figure will be increased to 2 billion dollars.<\/p>\n
Last year Cocobod signed a $1.2 billion syndicated loan from international banks for the 2013\/14 cocoa crop purchases as against $1.5 billion for 2012\/13.<\/p>\n
The credit facility between Cocobod and a consortium of international and local banks was led by French lender Societe General.<\/p>\n
The Cocobod syndicated loan is used to purchase cocoa beans from farmers.<\/p>\n
Seth Tekper says the increase is due to Cocobod\u2019s increase in expenditure.<\/p>\n
\u2018The increase is on account of expected increase in output as well as expenditure\u2019<\/p>\n
Government has indicated the funds from the syndicated loan, the Eurobond among others will be the life line to salvaging the free falling cedi.<\/p>\n
<\/p>\n
By:\u00a0 Anim Kwaku Boadu\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The cedi is expected to see some significant stability as well as strengthen against major international currencies in the coming weeks. This follows the finalisation of the agreement for the 2 billion dollar cocoa syndicated loan for the 2013\/2014 cocoa season. Barring any last minute changes, partner banks to COCOBOD\u2019s syndicated loan will on Thursday […]<\/p>\n","protected":false},"author":14,"featured_media":46037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-46024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/46024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46024"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/46024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/46037"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}