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General News of Friday, 29 November 2019

Source: The Herald

CDD report discredits IMF & World Bank on Ghana’s economy

Ghanaians’ approval ratings on indicators of their government’s economic performance have declined sharply compared to 2017, a new Afrobarometer report by the Center for Democratic Development (CDD) has said, adding majority of Ghanaians, believe that the country is “moving in the wrong direction.”

The report, which looked at the government’s economic performance noted that, although “Ghana has received positive reviews from the International Monetary Fund (IMF) and World Bank and made important economic strides, including the successful completion of the IMF bailout program and a clean-up of the financial sector, ….so far these successes appear not to have translated into concrete gains recognized by most citizens”.

Six in 10 Ghanaians, representing 59percent of the population, said the country was going in the wrong direction, while only 35percent, felt the country was headed in the right direction, a sharp decline from what pertained in 2017.

It said “Few citizens are content with the country’s economic situation and their personal living conditions, and a majority say the country is headed in the wrong direction. Still, more than half are optimistic that things will get better in a year’s time”.

Key findings are that “only three in 10 Ghanaians (30%) describe the country’s economic conditions as “fairly good” or “very good,” a modest decline from 35% recorded in 2017 (Figure 1).

Fewer than four in 10 (37%) say their personal living conditions are “fairly good” or “very good.”

And only 31% say the country’s economic condition has improved over the past 12 months. But more than half (54%) are optimistic that things will be “better” or ”much better” in 12 months’ time (Figure 2).

Six in 10 Ghanaians (59%) say the country is “going in the wrong direction.” The share of citizens who see the country as “going in the right direction” declined by 15 percentage points from 2017 to 35% (Figure 3).

Majorities of citizens say government is performing “fairly badly” or “very badly” in narrowing income gaps (66%), improving the living standards of the poor (56%), and creating jobs (54%) (Figure 4).

Approval ratings on indicators of the government’s economic performance have declined sharply compared to 2017, with approval on management of the economy recording the steepest drop, by 20 percentage points (Figure 5).

Afrobarometer surveys

Afrobarometer heads a pan-African, nonpartisan research network that conducts public attitude surveys on democracy, governance, economic conditions, and related issues across Africa. Seven rounds of surveys were completed in up to 38 countries between 1999 and 2018. Round 8 surveys are planned in at least 35 countries in 2019/2020. Afrobarometer conducts face-to-face interviews in the language of the respondent’s choice with nationally representative samples.

The Afrobarometer team in Ghana, led by CDD-Ghana, interviewed 2,400 adult Ghanaians between September 16, and October 3, 2019.

A sample of this size yields country-level results with a margin of error of +/-2 percentage points at a 95percent confidence level. Previous surveys were conducted in Ghana in 1999, 2002, 2005, 2008, 2012, 2014, and 2017.

Respondents were asked: Looking back, how do you rate economic conditions in this country compared to 12 months ago?

Looking ahead, do you expect economic conditions in this country to be better or worse in 12 months’ time?

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