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‘The Economy, Stupid’ is not an insult – Franklin Cudjoe to Bawumia

Franklin Cudjoe, a renowned advocate for economic accountability and Founding President of IMANI Centre for Policy and Education, has taken aim at Vice President Mahamudu Bawumia, emphasizing that the state of Ghana’s economy is no laughing matter.

According to him, the country’s economic woes are glaring, with the exchange rate ballooning from 1 dollar = GHC4 in 2016 to 1 dollar = GHC17 in 2024, alongside a staggering GHC 750bn debt accumulated between 2016 and 2024.

Cudjoe stresses that this economic reality is nothing to be proud of, particularly when compared to the GHC 120bn debt from 1957 to 2016. He asserts that the economy has been “pillaged, battered, and junked” by those in power, leaving 87% of Ghanaians feeling the country is headed for disaster, according to a recent Afrobarometer survey.

“The Economy is STUPID and none of those responsible are addressing it,” Cudjoe emphasizes, underscoring the urgent need for accountability and reform. As a Young Global Leader named by the World Economic Forum in Davos, Switzerland, in 2010, Cudjoe’s sentiments carry significant weight.

IMANI Centre for Policy and Education, under Cudjoe’s leadership, has been consistently ranked among the top 5 most reputable think tanks in Africa. His critique serves as a stark reminder that the country’s economic future demands swift and decisive action.

Full Statement:
“Look, ‘the Economy, stupid’ is not an insult. I think any sensible person living and observing the Ghanaian economy from 2016 to 2024 wouldn’t be far from the truth to conclude that this economy has been pillaged, battered, and junked by some earthly braggarts, aka ‘Solid Team’ of Damaging Directors. Any wonder 87% of Ghanaians recently polled by Afrobarometer say the country is doomed into an abyss? And who needs a debate to settle this basic fact? You must be on some high-grade weed to think and believe that 1 dollar= GHC17 (in 2024) is better than 1 dollar = GHC4 (in 2016) and a GHC 750bn debt between 2016 and 2024 is better than GHC 120bn from 1957 to 2016. The Economy is STUPID and none that were responsible are addressing it.”