Ghana has retained its 2023 score of 3.4 in the World Bank’s Country Policy and Institutional Assessment (CPIA) for Africa report, indicating steady policy and institutional performance over the past year.
According to the report, Ghana’s score remains consistent across various metrics, reflecting its commitment to economic management, public sector institutions, and structural reforms. The country’s lowest-performing cluster in 2023 was economic management, with a score of 2.8, showing a slight improvement from the previous year.
The report highlighted Ghana’s efforts in fiscal consolidation, citing actions by the central bank and government measures that contributed to reducing inflation from over 50 per cent in 2022 to 23.2 per cent by December 2023. It also noted the government’s revenue generation and expenditure control initiatives aimed at enhancing fiscal stability.
Despite challenges in debt policy, the report acknowledged Ghana’s engagements with creditors for comprehensive debt restructuring. It also praised the country’s strides in transparency, including the publication of annual borrowing plans and measures to clear and prevent arrears.
The report recognized Ghana’s strategies in terms of trade facilitation but flagged issues such as consistency in implementation, technical challenges with trade inquiry portals, and limited use of risk-based approaches for inspections.
Overall, the average CPIA score for International Development Association (IDA) eligible countries in Sub-Saharan Africa in 2023 remained stable at 3.1, with several countries witnessing improved scores compared to the previous year.
The CPIA Africa Report 2024 provides a comprehensive evaluation of policy quality and institutional frameworks across all 39 IDA-eligible countries in Sub-Saharan Africa. It utilizes scores ranging from 1 to 6 to assess various aspects of governance and economic management.
