By Francis Kobena Tandoh
The implementation of comprehensive policies and institutional reforms, along with improvements in infrastructural services and the strengthening of human capital, will drive sustained growth, the World Bank stated on Wednesday.
According to the World Bank, the reforms could sustain economic growth exceeding 6.5 percent, triple per capita income by 2050, and counter headwinds from democratic trends and decline in natural resources.
During the launch of the World Bank’s Policy Notes, “Transforming Ghana in a Generation,” the World Bank’s Director for Ghana, Sierra Leone, and Liberia, Robert Taliercio, observed that Ghana has a unique opportunity to transform the country within a generation.
“Ghana has a unique opportunity to restore fiscal discipline, improve governance, and leverage natural and human resources for broad-based and inclusive development to transform the country within a generation,” said Mr. Taliercio.
Stefan Curto, Lead Economist for Ghana, Liberia, and Sierra Leone and Lead Author, emphasized that the decisions that Ghana makes today will open doors for many of its citizens.
“The choices that Ghana makes now can unlock a generation of inclusive, resilient growth and deliver on the promise of sufficient quality jobs for its citizens,” said Curto.
The World Bank 2025 Policy notes underscore the need for Ghana to break away from its past governance failures marked by fiscal indiscipline, inefficiency, and repeated International Monetary Fund (IMF) programs.
It also urges the government to restore credibility through fiscal consolidation, transparency, and institutional reform, and put debt on a sustainable path, and avoid premature re-entry to the Eurobond market. Enditem
Source: Ghana Eye Report
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