Dollar Decline Began Before Power Transition — Owusu Amankwah Says Trend Not Tied to NDC Rule

Former Manhyia North MP Collins Owusu Amankwah has stated that the current decline of the US dollar against the Ghanaian cedi began before the transition from the New Patriotic Party (NPP) to the National Democratic Congress (NDC), dismissing suggestions that the NDC’s policies alone are responsible for the cedi’s recent performance.

Speaking during an interview on Kessben FM, Mr. Owusu Amankwah emphasized that the downward trend in the value of the dollar had already started while the NPP was still in office.

“The dollar was already depreciating versus the cedi when the NPP was handing over to the NDC,” he remarked, suggesting that the shift in currency value was not the result of the incoming administration’s actions, but a continuation of a pre-existing economic pattern.

He further argued that the current exchange rate would likely have remained the same even if the NPP had retained power. “Even if it was NPP in government now, it would be where it is today,” he said, attributing the currency’s movement more to global economic conditions and macroeconomic pressures than to changes in political leadership.

Owusu Amankwah’s comments appear aimed at shifting the public discourse away from partisan blame toward a broader understanding of international financial trends and their impact on Ghana’s economy.