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Working Paper

Poverty Reduction Support Credits : Ghana Country Study

ACCESS TO SAFE WATER ACCOUNTABILITY ACCOUNTING ACHIEVEMENT OF OUTCOMES ADJUSTMENT LENDING ADMINISTRATIVE FRAMEWORK ANNUAL PERFORMANCE ANNUAL REVIEWS ASSESSMENT PROCESS AUDIT SYSTEMS AUDITOR-GENERAL BANK LENDING BANK POLICY BANK PORTFOLIO BENEFICIARIES BORROWER BORROWING CAPACITY BUDGET CYCLE BUDGET DISCUSSIONS BUDGET FRAMEWORK BUDGET OUTCOMES BUDGET PROCESS BUDGET SUPPORT BUDGET SUPPORT OPERATIONS BUDGETARY EXPENDITURES BUDGETARY MANAGEMENT BUDGETARY REFORMS BUDGETARY RESOURCES BUDGETARY SYSTEMS BUDGETING CAPACITY BUILDING CAPITAL MARKET CAPITATION GRANT CIVIL LIBERTIES CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY PARTICIPATION COMPOSITION OF EXPENDITURES CONDITIONALITY DEBT DEBT RELIEF DECENTRALIZATION DECENTRALIZATION PROGRAM DEMOCRATIC PROCESSES DEVELOPMENT BANK DEVOLUTION OF RESPONSIBILITIES DIAGNOSTIC WORK DISBURSEMENT DISBURSEMENTS DIVISION OF LABOR DONOR ASSISTANCE DONOR COORDINATION DONOR FUNDING DONOR FUNDS DONOR INFLOWS ECONOMIC GROWTH ECONOMIC POLICY EDUCATION BUDGET EDUCATION EXPENDITURES EDUCATION POLICIES EDUCATION SERVICES EDUCATION SPENDING EXPENDITURE EXPENDITURE CONTROLS EXPENDITURE MANAGEMENT SYSTEM EXPENDITURES ON HEALTH EXTRA BUDGETARY FUNDS FINANCE MINISTRY FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCING ARRANGEMENTS FISCAL DEFICITS FISCAL IMBALANCES FISCAL POSITION FISCAL PROBLEMS FUNGIBLE GENERAL BUDGET SUPPORT GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT OWNERSHIP GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH CENTERS HEALTH EXPENDITURES HEALTH FINANCING HEALTH FINANCING SYSTEM HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH OUTCOMES HEALTH PROGRAMS HEALTH SECTOR HEALTH SERVICES HUMAN DEVELOPMENT INCOME LEVELS INFLATION INFRASTRUCTURE INVESTMENTS INSTITUTIONAL DEVELOPMENT INSTRUMENT INTERNAL AUDIT INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKET INTERNATIONAL DEVELOPMENT INVESTMENT ACTIVITIES LENDING INSTRUMENTS LIVING STANDARDS LOAN MACRO-STABILITY MACROECONOMIC STABILITY MINISTRY OF FINANCE MONETARY FUND MONITOR PERFORMANCE NATIONAL DEVELOPMENT OPERATIONAL EFFICIENCY OUTCOME MEASURE PERFORMANCE ASSESSMENT PERFORMANCE INDICATORS PERFORMANCE MEASUREMENT PERFORMANCE MEASURES PERFORMANCE REVIEW POLICY FORMULATION POVERTY REDUCING POVERTY REDUCTION POVERTY REDUCTION STRATEGIES POVERTY REDUCTION STRATEGY POVERTY REDUCTION SUPPORT POVERTY-REDUCING EXPENDITURE PRIVATE SECTOR PROGRAM BUDGETS PROGRAM OUTCOMES PROGRAMS PUBLIC ACCOUNTS PUBLIC BUDGET PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE MANAGEMENT REFORM PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT PROJECT PUBLIC FINANCIAL MANAGEMENT SYSTEM PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC FUNDING PUBLIC FUNDS PUBLIC MANAGEMENT PUBLIC SCHOOLS PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR REFORM PUBLIC SECTOR SPENDING PUBLIC SERVICE PUBLIC SERVICES QUALITY CONTROL REALLOCATIONS RECURRENT EXPENDITURES REFORM AGENDA REFORM PROCESS REFORM PROGRAM RESOURCE FLOWS RESOURCE LEVELS RESOURCE MANAGEMENT REVENUE SOURCES SANITATION SECTOR BUDGET SECTOR MINISTRIES SECTORAL POLICIES SERVICE DELIVERY SERVICE PROVISION SOCIAL BENEFITS SOCIAL EXPENDITURES SOCIAL INSURANCE SOCIAL PROTECTION STRATEGIC RESOURCE ALLOCATION STRUCTURAL ADJUSTMENT STRUCTURAL REFORM TELECOMMUNICATIONS TOTAL EXPENDITURE TOTAL EXPENDITURES TOTAL PUBLIC SECTOR TRADE UNIONS TRANCHE TRANCHES TRANSACTION TRANSACTION COSTS TRANSPARENCY TRUST FUND
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Washington, DC: World Bank
Africa | Ghana
2017-08-15T19:38:15Z | 2017-08-15T19:38:15Z | 2010

The Poverty Reduction Support Credit (PRSC) instrument was put to use at an opportune juncture in 2003 when, after a period of economic crisis, macroeconomic stability had been restored to Ghana and a reform process had been mapped out. The Bank used this instrument to signal strong support to the Government for the reform process, which was at risk of being derailed in the run up to the 2004 elections. The PRSC was perceived as a clear departure from previous adjustment lending, which was characterized by acrimonious negotiation of conditions. Following independence from Britain some 50 years ago, Ghana experienced rapid economic growth, spurred by commodity exports and industrialization linked to import-substitution policies. But by the early 1980s, standards of living had declined sharply, and Ghana had joined the ranks of other low-income African countries. Ghana's economic reform program, launched in 1983, marked a notable change in policy direction and a shift from a state-controlled economy to a more market-driven system. Ghana made progress in regaining macroeconomic stability and achieved its Highly Indebted Poor Country (HIPC) initiative completion point by 2004. Even so, progress was uneven, and the economy remained vulnerable. Ghana was among Africa's top 10 performers in the 2008 doing business report, and its ranking on corruption indicators is the best of low-income African countries. A recent national survey found that 75 percent of households regard corruption as a serious national problem, and 80 believe it has worsened in recent years.

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