New World Bank review shows poverty reduction in sub-Saharan Africa

world-bankA new World Bank review of policies and institutions in sub-Saharan Africa has revealed an overall stable environment for growth and poverty reduction despite divergence across countries.

The review is part of the annual World Bank Country Policy and Institutional Assessment (CPIA) that rates the performance of poor countries. The scores of 11 countries rose by 0.1 points or more, reflecting a strengthened policy agenda and the indexes of another 12 countries declined by at least 0.1 point, a statement has said.

The CPIA examines 16 key development indicators covering four areas which include economic management, structural reforms; policies for social inclusion and equity; and public sector management and institutions. Countries are also rated on a scale of 1 (low) to 6 (high) for each indicator, says the review.

“African countries with better policies tend to have higher economic growth, “But a redoubling of effort is needed to translate this growth into broad welfare gains,” Punam Chuhan-Pole, Acting Chief Economist, World Bank, Africa Region and main author of the report said.

By Dorcas Appiah


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