fbpx
Friday, January 24, 2025
1.2 C
Tallinn

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

Okonjo-Iweala Urges Leaders to “Chill” Amid Trade Tensions, Warns of Fragmentation Risks

DAVOS, Switzerland (CHATNEWSTV) — World Trade Organization (WTO) Director-General...

EFCC Withdraws Arrest Warrant Issued Against Mercy Chinwo’s Former Manager

Economic and Financial Crimes Commission, on Friday, withdrew the...

U.S Lawmaker Introduces 3rd Term Bill For Donald Trump

A US lawmaker, Andy Ogles has introduced a bill...

President Tinubu appoints new chairman for UNIABUJA hospital

Agency Report - President Bola Tinubu has appointed Dr Ikye...

Lagos Governor Orders Immediate Close of Oshodi Pedestrian Bridge

Agency Report - The Lagos State Government has ordered immediate...

Latest

Okonjo-Iweala Urges Leaders to “Chill” Amid Trade Tensions, Warns of Fragmentation Risks

DAVOS, Switzerland (CHATNEWSTV) — World Trade Organization (WTO) Director-General...

EFCC Withdraws Arrest Warrant Issued Against Mercy Chinwo’s Former Manager

Economic and Financial Crimes Commission, on Friday, withdrew the...

U.S Lawmaker Introduces 3rd Term Bill For Donald Trump

A US lawmaker, Andy Ogles has introduced a bill...

President Tinubu appoints new chairman for UNIABUJA hospital

Agency Report - President Bola Tinubu has appointed Dr Ikye...

Lagos Governor Orders Immediate Close of Oshodi Pedestrian Bridge

Agency Report - The Lagos State Government has ordered immediate...

EU, TĂĽrkiye Discuss Cooperation on Syria, Gaza, and Ukraine

ANKARA, Türkiye (CHATNEWSTV) — The European Union's High Representative...

Far-right Alternative for Germany to hold event in knife-attack city

Agency Report - Würzburg, Germany  - The far-right Alternative for Germany...

Germany’s Merz demands migration reforms, even with support from AfD

Agency Report - Berlin - Opposition head Friedrich Merz is calling...
spot_img

Related Articles

Popular Section

spot_imgspot_img

MORE FROM CHATNEWSTV

Okonjo-Iweala Urges Leaders to “Chill” Amid Trade Tensions, Warns of Fragmentation Risks

DAVOS, Switzerland (CHATNEWSTV) — World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala urged world leaders, government officials, and business executives to “just chill” and “take...

Tinubu Names Ganduje FAAN, Gawuna FMBN Chairs

Agency Report - President Bola Tinubu has approved the appointment of Board Chairpersons for 42 federal organisations and a Secretary for the Board of the...

Mbah Urges Diaspora to Invest in Enugu

Enugu State Governor, Dr. Peter Mbah, has urged the Nigeria diaspora community to consider Enugu as their first choice of investment destination, stressing that...

Enugu Govt, Landmark Africa Group Seal Deal to Revamp Nike Lake Resort

The Enugu State Government and the Landmark Africa Group have sealed a deal to revamp and further develop the potentials of Nike Lake Resort,...

Reforming Germany’s debt rules will not solve economic ills — Kukies

Agency Report - Reforming Germany's strict constitutional rules on government borrowing will not solve the country's economic problems, Finance Minister Jörg Kukies said in Davos...

Stanbic IBTC Taps NGX Invest for ₦148.7bn Rights Issue

The Nigerian Exchange Limited, NGX, e-offering platform, NGX Invest, continues to revolutionise capital-raising in Nigeria with the addition of Stanbic IBTC Holdings Plc N148.7...

Nigeria’s Public Debt Hits N142trn in Q3 2024 – DMO

Debt Management Office (DMO) has disclosed that Nigeria’s total public debt stood ar N142.3 trillion as of September 2024. DMO said the country’s total public debt...

German beer sales continue to decline in 2024

Agency Report - Berlin  - Consumption of alcoholic beer in Germany continued to decline in Germany in 2024, part of a steady long-term drop in drinking...

German central bank warns that economy remains ‘listless’

Agency Report - Frankfurt  - Germany's economic weakness and stagnation will persist into the first months of the year, the country's central bank, the Bundesbank, stated...