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Check cedi performance under Rawlings, Kufuor, Mahama and Akufo-Addo

November 17, 2024
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Check cedi performance under Rawlings, Kufuor, Mahama and Akufo-Addo

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U.S.-based financial analyst Scott Bolshevik has stirred heated conversations online after posting a striking analysis of the Ghanaian cedi’s performance against the U.S. dollar during the Fourth Republic.

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Shared on social media platform X (formerly Twitter), Bolshevik’s data highlights the steady depreciation of the cedi under successive governments, with President Akufo-Addo’s administration showing the poorest performance.

According to Bolshevik’s post, the cedi’s depreciation against the dollar unfolded as follows under successive governments:

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Rawlings (0.044 to 0.54), Kufuor (0.54 to 1.4), Mills (1.4 to 1.88), Mahama (1.88 to 3.8), and Akufo-Addo (3.8 to 15.6).

The data reveals that while all administrations experienced depreciation, the cedi’s value has dropped by over 300% under Akufo-Addo’s seven-year tenure, the sharpest decline in the Fourth Republic.

Cedi performance to $1 During the Fourth Republic of Ghana

– Rawlings, from 0.044 to 0.54

– Kufuor, from 0.54 to 1.4

– Mills, from 1.4 to 1.88 in 4yrs

– Mahama, from 1.88 to 3.8 4yrs

– Akufo-Addo from 3.8 to 15.6 over seven years

Akufo-Addo showed the poorest performance pic.twitter.com/zNpPBlTs8m

— Scott (@scottbolshevik) June 19, 2024

Tags: cedi depreciationfourth republicScott Bolshevik
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