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Ghana - Economic Management Support Project, the Private Enterprise and Export Development Project, and the Private Sector Adjustment Credit Project (Английский)

The outcomes for all three projects are rated marginally unsatisfactory. Project sustainability of the EMSP is uncertain because skilled staff may not be retained and strong ownership may not be maintained; many components were only partially implemented. The PEED project's sustainability of the limited achievements is uncertain without macroeconomic stability, financial sector reform, and a business environment conducive to private investment and export growth. The sustainability of the PSAC project is uncertain as most state owned enterprises have not passed to private hands, and PSAC's contribution to institutional development was modest. Both World Bank and Borrower performances for all three projects were rated unsatisfactory. The main lessons from these projects were: 1) Capacity building and institutional development need strong program ownership by the Borrower and a careful assessment of the agency's implementation ability; 2) Major policy reforms in fiscal management and in the civil service are more appropriately addressed by changes in institutional initiatives rather than technical assistance for training and studies. Operations involving the financial sector are sensitive to macroeconomic instability and to weak and inexperienced financial institutions and borrowers. The expertise required for privatization transactions should be in place before the process begins so that potential roadblocks such as legal and financial issues can be identified in advance.

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    Доклад об оценке результатов деятельности по проекту

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  • Название документа

    Ghana - Economic Management Support Project, the Private Enterprise and Export Development Project, and the Private Sector Adjustment Credit Project

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    small and medium size enterprise;private sector participation in infrastructure;trade and investment;economic and sector work;civil service reform program;decline in tax revenue;legal and regulatory framework;public financial management reform;staff development and training;public financial management system;Project Preparation and Appraisal;Macroeconomic Stability;state owned enterprise;Country Assistance Strategies;country assistance strategy;domestic resource mobilization;human resource development;balance of payment;fiscal management;state-owned banks;human resource management;education and health;financial sector development;public sector efficiency;financial sector reform;state owned bank;private investment;export finance;export marketing;producer price index;formal financial system;social accounting matrix;liberalizing interest rate;consumer price index;overvalued exchange rate;Promoting Private Sector;fiscal management system;economic policy analysis;per capita income;lack of resource;debt service ratio;cooperation and assistance;current account deficit;private financial institution;gross investment rate;impact of reforms;exchange rate system;capital market regulation;long-term debt market;weak banking system;liabilities to depositor;private sector company;high inflation rate;Public Expenditure Management;improving budget preparation;negative interest rate;regulation and supervision;value added tax;civil service performance;demand for fund;national institutional renewal;environmentally sustainable growth;tax revenue increase;private sector entry;divestiture of state;debt management system;abuse of authority;budget deficit;fiscal discipline;tranche release;Tax Administration;macroeconomic instability;skilled staff;sale contract;marketing study;export credit;business environment;export sector;macroeconomic stabilization;expenditure monitoring;cash management;divestiture component;structural adjustment;administrative capacity;privatization transaction;macroeconomic situation;medium-term loans;Tax Reform;financial budget;commercial insurance;Consulting services;credit facilities;grade structure;personnel management;macroeconomic condition;land title;monetary discipline;trade promotion;monetary policy;tax collection;credit line;currency devaluation;inflation target;export growth;assessing progress;procurement problems;wage increase;administrative function;private hand;borrower performance;external source;strategic objective;expenditure target;macroeconomic performance;government control;divestiture program;fiscal adjustment;external assistance;strategic development;political commitment;real gdp;fiscal imbalance;regular training;insurance companies;settlement system;Basic Education;privatization program;primary health;timber company;revolving credit;budget planning;corporate restructuring;procurement delay;poverty alleviation;business condition;Debt Policy;commercial bank;public resource;telecommunications service;economic reform;management agencies;good governance;Business Climate;divestiture process;audit rate;stock exchange;social reform;housing companies;bank deposit;export processing;guarantee facilities;information gathering;analytical capacity;financial policies;trade finance;political clout;sale transaction;Exchange Rates;timely payment;cocoa industry;long-term process;capital expenditure;debt repayment;incremental exports;crowding out;government commission;promotional effort;project effectiveness;adjustment credit;long-term strategy;macroeconomic targets;borrowed fund;annual budget;financing need;medium-term framework;documentation requirement;broad money;beneficiary enterprise;export business;contract information;export promotion;legislative instrument;fiscal stance;insolvent state;Economic Management;external payment;real appreciation;tax base;expansionary fiscal;foreign exchange;fiscal restraint;administrative control;private bank;living standard;fiscal balance;address change;real sector;property right

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