GHANA’S MIDDLE-INCOME STATUS HAS SEVERAL GAPS THAT NEED TO BE FILLED
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 of the policy interventions that would be needed to improve Ghana's economic performance and social indicators to the levels commensurate with its
new MIC status. ...