First 18 Months Cedi-Dollar Depreciation; Nana Addo/NPP Has Performed Better Than Mahama/NDC

This analysis accompanied with facts is to help determine who (H.E Nana Addo or H.E Mahama) has performed better with respect to the management of Ghana's currency (GH Cedi) under his tenure.

I used secondary data, and also Percentage Change as the model for my analysis.

Since His Excellency Nana Addo Dankwa Akufo-Addo had only ruled as a democratically elected President for eighteen (18) months (7th January, 2017 to 5th July, 2017) at the time of this article, I had to compared the GH Cedi-US Dollar exchange rates of the first 18 months of both regimes.

Since at the time of this article, H.E John Dramani Mahama had ruled as a democratically elected President from 7th January, 2013 to 6th January, 2017, his first 18 months rule will cover from 7th January, 2013 to 5th July, 2014 as compared to that of President Nana Addo which is covering from 7th January, 2017 to 5th July, 2018.

I used two specific dates in the first 18 months of their respective rule for my analysis, and that is 7th January and 5th July.

The Analysis
Under H.E John Mahama
7th January, 2013
1 US Dollar = 1.9040 GH Cedis
4th July, 2014
1 US Dollar = 3.4125 GH Cedis
Analysing with the exchange rates of January, 2013 and that of July, 2014, there is a clear evidence of a Depreciation of the GH Cedi against the US Dollar.

Percentage Change= (Change/initial value) x 100%
= [(3.4125-1.9040)/1.9040] x 100%
Percentage Change = 79.24%
Therefore under H.E John Mahama, the Percentage Change resulting out of a Depreciation of the GH Cedi against the US Dollar is 79.24%

Under H.E Nana Addo
7th January, 2017
1 US Dollar = 4.270 GH Cedis
4th July, 2018
1 US Dollar = 4.7885 GH Cedis
Analysing with the exchange rates of January, 2017 and that of July, 2018, there is a clear evidence of a Depreciation of the GH Cedi against the US Dollar.

Percentage Change= (Change/initial value) x 100%
= [(4.7885-4.270)/4.270] x 100%
Percentage Change = 12.14%
Therefore under H.E Nana Addo, the Percentage Change resulting out of a Depreciation of the GH Cedi against the US Dollar is 12.14%

Conclusion
By comparing the percentage changes of the first 18 months of the two regimes, it clearly shows that the US Dollar-GH Cedis exchange rate depreciation was higher under H.E John Mahama than it was under H.E Nana Addo.

This confirms that H.E Nana Addo has better managed the GH Cedi against the US Dollar under the first 18 months of his rule than how H.E Mahama did.

Reference
The US Dollar-GH Cedis exchange rates for 7th January 2013, 5th July 2014, 7th January 2017 and 5th July 2018 can easily be found on the Internet with the Google search engine.

Thank you
Hhhmm, may God be praised always
Nana Kwadwo Akwaa
0246913905 / 0209676413
Member, Critical Thinkers International (CTI)