Julie Kozack is the Director of Communications at the IMF
The International Monetary Fund (IMF) has advised Ghana to prioritise reforms at the Ghana Cocoa Board (COCOBOD) in light of the country’s ongoing cocoa crisis.
According to the Fund, the crisis could impact Ghana’s macroeconomic indicators, particularly foreign exchange inflows and the IMF-supported programme.
Speaking during an X Space discussion on February 22, 2026, the Director of Communications at the IMF, Julie Kozack, described cocoa as a crucial national commodity, accounting for about 10 percent of Ghana’s export revenue. She explained that the current challenges stem from depressed global prices and declining domestic production.
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The Fund further called for key reforms to tighten governance controls, improve transparency, and strengthen procurement and operational efficiency in the sector.
“But in practical terms, such reforms typically mean tightening governance and controls, improving transparency around costs and liabilities, strengthening procurement and operational efficiency, and resetting incentives so that productivity and quality improvement are rewarded rather than crowded out by short-term financing stress,” Kozack said.
She emphasised that if the government’s stabilisation measures are fully implemented, Ghana’s cocoa sector will be better positioned to compete across the continent.
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Source:
www.ghanaweb.com