fbpx
Monday, December 23, 2024
28.1 C
Abuja

New Country Policy and Institutional Assessment Report for Africa Points to Areas of Improvement Amid Challenges

The CPIA is an annual diagnostic tool for countries eligible for financing from the International Development Association (IDA), the part of the World Bank that helps the world's poorest countries

WASHINGTON D.C., United States of America, September 12, 2023/ — Despite new international challenges, poor harvests, and the price shocks of 2022, many countries in Sub-Saharan Africa saw improvements in their social inclusion policies and their structural policies—both of which are reflected in the latest Country Policy and Institutional Assessment (CPIA) scores for 39 countries in the region.

The CPIA is an annual diagnostic tool for countries eligible for financing from the International Development Association (IDA), the part of the World Bank that helps the world’s poorest countries. The 2023 report provides an assessment of the quality of policies and institutions in all 39 International Development Association (IDA)–eligible countries in SSA for calendar year 2022. Countries are rated on a scale of 1 (low) to 6 (high) across 16 dimensions reflecting four areas: economic management, structural policies, policies for social inclusion and equity, and public sector management and institutions.

The average overall CPIA scores in SSA remained stable at 3.1.  While many countries made improvements in “policies for social inclusion” and “structural policies”, these improvements were offset however by stagnation in “economic management” and “public sector management and institutions.”

At a time of high global interest rates and weak economic growth, it is encouraging to see progress in policy reform, especially around private-sector reforms and protecting vulnerable people from economic fluctuations,” said Nicholas Woolley, economist with the World Bank Office of the Chief Economist for Africa.

In 2022, the gap between sub-regions grew, as Western and Central Africa (AFW) continued its upward trend, improving scores slightly from 3.2 to 3.3, while Eastern and Southern Africa (AFE) remained unchanged at 3.0. However, this gap can largely be attributed to the performance of fragile and conflict-affected states (FCS). In 2022, the four lowest-scoring countries (South Sudan, Eritrea, Somalia, and Sudan) were located in AFE and were experiencing conflict and fragility. Without these four states, the score between sub-regions is almost identical. While AFW also contains fragile and conflict-affected states, they performed relatively well, especially in economic management scores, owing perhaps to the beneficial impact of currency unions in West Africa.

Besides providing scores, the CPIA report highlights policy trends and examples of best practices in specific areas such as inflation, currency management, financing, growth, social protection, transparency, and accountability. “The frequency, comprehensiveness, and rigor of the CPIA review can help drive country engagements and underpin an evidence-based dialogue around countries’ reform agenda,” said Andrew Dabalen, World Bank Chief Economist for Africa.

Hot this week

Lahm criticizes awarding of 2034 World Cup to Saudi Arabia

Former Germany captain Philipp Lahm has criticized the awarding...

In Memory of The ‘Unknown’: The Story of Elechi Igwe 1964-1990 By Chidi Odinkalu

The chances are that his name does not ring...

Kwara Resident Dies in Police Custody After Arrest Over ₦220k Debt

A resident of Ilorin, capital of Kwara state, Jimoh...

Lookman Marks CAF Award With Goal in Atlanta Victory

Ademola Lookman scored the second goal in Atalanta’s 3-2...

Nigerian Government Declares 25th, 26th And 1st January Public Holiday

The Federal Government has declared Wednesday 25th, Thursday 26th...

Latest

Lahm criticizes awarding of 2034 World Cup to Saudi Arabia

Former Germany captain Philipp Lahm has criticized the awarding...

Kwara Resident Dies in Police Custody After Arrest Over ₦220k Debt

A resident of Ilorin, capital of Kwara state, Jimoh...

Lookman Marks CAF Award With Goal in Atlanta Victory

Ademola Lookman scored the second goal in Atalanta’s 3-2...

Nigerian Government Declares 25th, 26th And 1st January Public Holiday

The Federal Government has declared Wednesday 25th, Thursday 26th...

AIICO Insurance Opens 2025 IT Graduate Trainee Programme

AIICO Insurance plc is the leading player in the...

Dangote Group Starts Recruitment of New Employees For 2025

Dangote Group is one of Nigeria’s most diversified business...

Application Opens For IBEDC 2025 Recruitment

Ibadan Electricity Distribution Company (IBEDC) Plc – Headquartered in...
spot_img

Related Articles

Popular Section

spot_imgspot_img

MORE FROM CHATNEWSTV

Reps Launch Probe Into Alleged Forced Retrenchment of CBN Staff

Speaker of House of Representatives, Tajudeen Abbas, has urged all relevant stakeholders to collaborate with the house in its investigation on the alleged forceful...

German property prices continue to rise, new report shows

Frankfurt (dpa) - Property prices continued to rise in most parts of Germany in the third quarter of 2024, although houses in some major...

Gov. Bago Approves N1.5 Trillion Budget for 2025

Governor Umaru Bago of Niger has signed the 2025 appropriation bill of over N1.558 trillion into law. Mr Bago performed the statutory duty in Government...

Speaker Abbas Supports Tax Reform Bill in 2025 Budget

The Speaker of the House of Representatives, Tajudeen Abbas, says Nigeria’s low tax revenue remains a major constraint to national growth. Abbas said this at...

80,000 Syrians work in Germany in jobs with labour shortages

Sending Syrian refugees back to their country of origin could have negative effects on the German economy, widen the skills gap and be troubling...

Some Lawmakers Praise Tinubu’s N47.9 Trillion 2025 Budget

Some members of the House of Representatives have expressed satisfaction with the 2025 Appropriation Bill of N47.9 trillion presented to the joint session of...

Nigerian Government Sets N34.82 Trillion Revenue Target In 2025 Budget

President Bola Tinubu says the Federal Government targets N34.82 trillion revenue to fund the N47.9 trillion 2025 budget. Tinubu stated this on Wednesday in Abuja...

Bill Banning Foreign Currency Transactions Advances to Next Stage

On Tuesday, the Nigerian Senate passed a bill for its first reading that aims to prohibit the use of foreign currencies for payments and...

Aba’s Eziukwu Market a Hub for Fake, Substandard Products — NAFDAC

ABA, Nigeria (CHATNEWSTV) — The National Agency for Food and Drug Administration and Control (NAFDAC) has labeled Eziukwu Market, popularly known as Cemetery Market...