World Economics Governance Index: 1st in West Africa, 5th in Africa

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 The World Economics Governance Index (WEGI) measures various aspects of economic management, including policy formulation, regulatory quality, and the effectiveness of government institutions. In the latest WEGI report, Ghana has been rated B, reflecting both its strengths and areas needing improvement.

Ghana has been ranked the 1st West African country. Ghana garnering 61.7 points on the World Economics Governance Index. On the African continent, Mauritius ranked 1st on the index, followed by Namibia, South Africa, Botswana and Ghana in the 5th position. 

This rating signifies that Ghana's economic governance is moderately strong but has room for improvement. This rating is based on several key indicators, including fiscal policies, regulatory environment, transparency, and accountability in government operations.

Ghana has made significant strides in improving its fiscal policies. Efforts to stabilize the economy through prudent fiscal management have been recognized. The government's commitment to reducing budget deficits and managing public debt has contributed positively to this aspect of the rating.

Additionally, the government has introduced policies to enhance digital infrastructure and promote technological innovation. These efforts are aimed at modernizing the economy and creating new opportunities in the digital space.

Ghana’s rating on the World Economics Governance Index is a testament to the country's progress in economic governance. It reflects a balanced view of the achievements and challenges faced by the nation. To improve its rating, Ghana must continue to focus on transparency, infrastructure development, and education. With sustained efforts in these areas, Ghana can strengthen its economic governance and achieve a higher rating in future assessments.

Source: https://www.worldeconomics.com/Indicator-Data/ESG/Governance.aspx

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