Cedi is doing well under the government of Nana Addo – Ofori-Atta | Economic news

Finance Minister Ken Ofori-Atta says the Ghana cedi has achieved more than ever satisfactory results under the Mahama government.

According to him, the depreciation of the cedi during the first six months of 2018 has been the best since 2012.

The cedi reached its lowest level in May and June of this year, reaching 4.88250 GHS for a dollar .

But presenting the budget review of in the middle of the year before the parliament on Thursday 19 In July 2018, Mr. Ofori-Atta said: " We have Given the cedi's undergoing pressure primarily due to external pressures, in fact, apart from the high volatility recorded this year, the dollar's average performance has been one of the best in recent years. " [19659002] Adding That, " Mr. President, Ghana's performance Over the past 18 months of the Akufo-Addo Government, the cedi has been impressive compared to the last six years: the annual depreciation of the cedi of Ghana against the US dollar was 4.9% in 2017, was 9.7% in 2016, 15.7% in 2015, 31.3% in 2014 and 70.5% in 2013.

"A new query of data from the Bank of Ghana showed that the depreciation of the first half-year, six months of 2018, was the best since 2012. It is instructive to note that from January 2018 to June 2018, the depreciation of Ghana's cedi against the dollar was 2.4% against 17.2% in 2012, 3.6% in 2016, 3.7% in 2017.

"If that happens, it means that the 2018 performance of the Ghana cedi is likely to be better than even the 4.9% that we experienced in 2017, which was an absolute low compared to the four years of Mahama's administration. "