Ghana maintains steady performance in 2024 World Bank CPIA Africa report

Ghana’s score on the 2023 World Bank Country Policy and Institutional Assessment for Africa report remained steady at 3.4, unchanged from the previous year.

Similarly, the average score for Sub-Saharan African countries also remained stable.

Ghana’s lowest-performing cluster for 2023 was economic management, where it recorded 2.8, although the figure was 0.2 points higher than what was recorded in 2022.

For public sector management and institutions, the country recorded a score of 3.6. Additionally, the country scored 3.5 for its structural reforms.

The report noted that the central bank’s actions and fiscal consolidation helped to reduce inflation from over 50 percent in 2022 to 23.2 percent in December 2023.

It also acknowledged the government’s commitment to steadfast fiscal consolidation through several revenue and expenditure measures.

It further argued that although debt policy is weak, the authorities have been engaging with creditors to seek a comprehensive debt restructuring, and they have taken significant steps to enhance transparency, including publishing an annual borrowing plan and an arrears clearance and prevention plan.

The report also captured the trade facilitation strategies that have been put in place but noted challenges with consistency, broken links in the trade inquiry portal, and limited use of a risk-based approach for inspections.

In 2023, the average CPIA score for International Development Association (IDA) eligible countries in Sub-Saharan Africa remained similar to its 2022 level, at 3.1.

However, more countries saw improvements in their overall scores compared to those that received downgrades, and fewer countries’ scores declined, compared to the previous year’s CPIA assessment.

The CPIA Africa Report 2024 provides an assessment of the quality of policies and institutions in all 39 International Development Association (IDA) eligible countries in Sub-Saharan Africa for 2023.

Scores in the CPIA range from 1 to 6.

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