Ghana Still Has To Overcome Despite The Rise To Middle Income Status Several Challenges

“After rebasing in 2010, Ghana’s per capita GDP rose to Middle-Income Country (MIC) level as defined by the World Bank. The per capita income measure is, however, seen to be too narrow as it does not even include key economic indicators let alone important social and development indicators. The IEA has assessed Ghana’s MI status in comparison with Malaysia and South Africa based on wide-ranging economic and social indicators, including: the domestic macroeconomy, real economy, financial sector, external sector, infrastructure, competitiveness, education, health and poverty. It is found that Ghana trails these two major MICs on almost all the economic and social indicators investigated. The paper recommends some policy interventions that would be needed to improve Ghana’s economic performance and social indicators to the levels commensurate with its new MIC status.”