Ofori-Atta's cedi management record under NPP’s first term best since 1992 – Economist

Economist and Senior Research Fellow at the Centre for Social Policy Studies (CSPS) at the University of Ghana, Dr. George Domfe, has claimed that Ken Ofori-Atta's management of the Ghanaian currency is the best regarding the first terms of regimes.

Speaking on Atinka TV's Agenda Show on Wednesday, February 21, the economist indicated that no Finance Minister since 1992 has performed better in managing the cedi for a first term than Ken Ofori-Atta.

"It is important to state with emphasis that, as far as first-term management of the cedi is concerned, Ken Ofori-Atta is second to none in terms of performance. His record for the management of the cedi is the best since 1992 when talking about first terms," Dr. Domfe said.

The University of Ghana economist held that, but for the catastrophic events in the shape of COVID-19 and the war in Europe, the economy under Ken Ofori-Atta would have been one of the best in the country's history.

Dr. Domfe indicated that "between January 2017 and January 2021, the cedi depreciated by 27%." This, he said, is the lowest rate of depreciation of the cedi for the first term since 1992.

He also stated that under the John Mahama government, between January 2013 and January 2017, the cedi depreciated by 54%, describing it as one of the worst performances of any regime as far as their first terms are concerned.

He further said that Mahama's first term performance was only better than that of late President Jerry John Rawlings.

Dr. Domfe also expressed his disappointment in media personality Nana Aba Anamoah, who, in a recent interview, said that Ken Ofori-Atta is the worst finance minister in Ghana's history. According to him, the veteran journalist's position is one of ignorance and not based on any empirical evidence or fact.

MA/NOQ

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