LOADING

Type to search

Ghana ranks 7th in latest World Bank ratings

botchway September 14, 2018

 

By Maxwell Obiri-Yeboah   .

The World Bank has organised a forum in Accra to reveal an evaluation of Ghana’s policies and institutional assessment in a research which was conducted within 39 Sub-Sahara African countries in 2017.

The team of experts from the World Bank, who were impressed with last year’s assessment report, however, said nine countries declined in the Bank’s economic benchmark ratings in the 2017 report, as compared to the 2016 report, with fifteen countries falling below the average mark required.

It was again revealed at the forum, held at the World Bank office in Accra last Wednesday, that there has been an improvement in the debt deterioration of institutions within the 39 African countries. The overall score in this remark is 6.0, with the average being 3.1. This evaluation is based on four main indicators across all nations, namely, the Economic Management, Structural Policies, Policies for Social Inclusion and Equity, and lastly, Public Sector Management and Institutions.

The highest score for Ghana in these four cardinal areas, per the report, was recorded in the Policies for Social Inclusion and Equity section, with a score of 3.8, while the lowest mark was noted in Economic Management as Transparency, Accountability and Corruption in the Public Sector failed to meet strict standards. The country, therefore, had a score of 3.3 in this section.

On the overall score per their assessment, Ghana scored 3.6 to occupy the 7th position, which, according to them, is one of the weakest scores in the country’s recent history. Among the 39 nations where this research was conducted, Rwanda took the lead, scoring 4.0, and South Sudan was at the bottom, occupying the 39th position with a score of 1.5.

The team of experts from Washington DC in the United States revealed that this study was designed to cover all aspects of the policies in the low income nations, and also used to allocate financial resources from the World Bank to these countries when they are being called to assist a nations.

It is used to organise and coordinate the activities of the government, and to measure the quality of policies and institutions in the Sub-Saharan African nations. Also, it is a means to check the quality of monetary and exchange rates, as well as fiscal policy.

The team made it clear that they were ready to assist all nations in the Sub-Saharan region to strengthen their policies and institutions to gain maximum points whenever the need arises. They urged all nations to take this report serious, as it encompasses four pillars of growth in the low income countries.

 

Leave a Comment

Your email address will not be published. Required fields are marked *

Show Buttons
Hide Buttons