Ghana performs creditably in 2024 IMD World Competitiveness Ranking

Ghana has debuted in the 2024 IMD World Competitiveness Ranking, placed 65th out of 67 economies.

The ranking assesses global economic competitiveness and now includes Ghana, Nigeria, and Puerto Rico. Ghana scored well in societal framework indicators like press freedom and political stability but ranked poorly in education (66th) and international trade (66th).

Strengths included a diverse export base and business-friendly environment. The inclusion of African countries aims to provide performance benchmarks and attract investment.

Key challenges for Ghana identified by its Management Development and Productivity Institute include government debt, inflation, youth unemployment, reliance on imports, and high energy costs.