Franklin Cudjoe, the Founder and President of IMANI Africa, has seemingly defended former President John Dramani Mahama’s use of the phrase “This election is about the economy, stupid,” amid backlash from certain quarters.

In a Facebook post on November 1, 2024, Cudjoe clarified that the statement is not an insult, but rather a critique of the current economic situation under President Nana Addo Dankwa Akufo-Addo’s government.

Cudjoe argued that Ghanaians themselves recognize the country’s economic difficulties, pointing out that the economy has deteriorated since 2016.

“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,” he wrote.

Cudjoe referenced a recent Afrobarometer poll indicating that 87% of Ghanaians believe the country’s economic outlook is bleak. He also criticized the depreciation of the Ghanaian cedi, with the exchange rate worsening from GHC4 per dollar in 2016 to GHC17 per dollar in 2024, alongside a debt increase from GHC120 billion to GHC750 billion over the same period.

What Mahama said:

The controversy around Mahama’s phrase arose after he criticized Vice President Dr. Mahamudu Bawumia’s recent response to his economic concerns.

During his campaign, Mahama referenced a line from Bill Clinton’s 1992 campaign, stating, “It’s about the economy, stupid!”

He argued that Ghana’s economic issues are more pressing than unrelated matters, such as infrastructure projects.

This remark sparked reactions, particularly among supporters of the ruling New Patriotic Party, who interpreted it as insulting.

Mahama clarified his statement, urging that the election debate should focus on economic performance rather than sideline issues.

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