Ghana scores 3.4 in 2023 CPIA report
Ghana has maintained its previous score of 3.4 in the World Bank's Country Policies and Institutional Assessment (CPIA) Africa 2023 Report amidst economic challenges in countries in Sub-Saharan Africa (SSA).
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Ghana last scored 3.4 performance in the CPIA which has 6.0 as the highest score in the 2022 report; it was a decrease by a 0.2 from the 2021 report. Meanwhile, the overall score increased for 11 countries this year compared to 12 in 2022.
The CPIA Africa report launched in Accra last Tuesday, revealed that the average CPIA score for International Development Association (IDA) eligible countries in SSA remained similar to its 2022 level, at 3.1.
The CPIA Africa is an annual country assessment intended to capture the quality of a country's policies and institutional arrangements.
It measures the extent to which a country's policy and institutional framework supports sustainable growth and poverty reduction, and consequently, the effective use of development assistance.
The outcome of the exercise yields an overall score and scores for the 16 criteria that compose the CPIA under four clusters namely, "Economic Management; Structural Policies; Policies for Social Inclusion and Equity; and Public Sector Management".
Cluster performance
The report indicated Ghana's lowest-performing cluster was Economic Management (2.8), which is a 0.4 point less than the SSA IDA average (3.2).
Its highest-performing cluster was Policies for Social Inclusion and Equity (3.7), a 0.3 point more than the SSA IDA average (3.3).
Ghana's performance for Public Sector Management and Institutions (3.6) is 0.7 point more than the SSA IDA average of (2.9); and it also scored a 0.3 point more on Structural Policies (3.5) than the SSA IDA average (3.2).
The report also highlighted that Ghana Central Bank's actions and fiscal consolidation helped to reduce inflation from 50 per cent in 2022 to 23.2 per cent in December 2023.
It noted that "although, government's debt policy is weak, authorities have been engaging with creditors to seek comprehensive debt restructuring, and have taken steps to enhance transparency and published an annual borrowing plan and an arrears clearance and prevention plan".
Performance of other countries
On performance of various counties, it indicated that for 10 countries, the overall score increased by 0.1; these include, "Benin (3.9); Burundi (3.1); Comoros (2.7); Côte d'Ivoire (3.8); Democratic Republic of Congo (3.2); Guinea-Bissau (2.6); Congo (2.9); South Sudan (1.7); Somalia (2.2); and Togo (3.8).
The score increase for Mauritania (3.6) increased by 0.2 point; and Rwanda maintained the highest score of 4.1 from the previous year.
For countries that scored a downgrade, compared to eight countries in 2022, only five countries' scores decreased in 2023. Four countries' overall scores decreased by 0.1 points including "Burkina Faso (3.4), Ethiopia (3.2), Eritrea (1.7), and Mozambique (3.1). Sudan's overall score decreased by 0.2 point to 2.0.