World Bank Calls for Urgent Reforms in Ghana’s Energy and Cocoa Sectors
The World Bank has called on the Government of Ghana to urgently accelerate reforms in the energy and cocoa sectors, warning that further delays threaten the country’s macro-financial stability.
Speaking at the launch of the World Bank’s 2025 Policy Notes on Wednesday, Robert Taliercio, the Bank’s Division Director for Ghana, Sierra Leone, and Liberia, said the rising fiscal burden from the energy sector is unsustainable.
“In 2024 alone, government spent about 1.4 billion dollars to cover shortfalls in the energy sector, with costs projected to rise to 2 billion dollars by 2026. This represents nearly 2 percent of GDP resources that could otherwise support health, education, or road infrastructure,” he said.
Taliercio stressed that every month of delay in implementing energy sector reforms adds significantly to the fiscal pressure, describing progress so far as insufficient.
He also underscored the urgency of reforms in the cocoa sector, pointing to inefficiencies in the operational framework of the Ghana Cocoa Board (COCOBOD). According to him, these inefficiencies have led to debt accumulation and higher fiscal liabilities, undermining the resilience of one of the country’s most important export sectors.
At the same time, Taliercio highlighted opportunities in flagship government initiatives such as the 24-Hour Economy and the Big Push infrastructure program, saying they could serve as platforms to anchor broader reforms if implemented effectively.
“These programs have the potential to spur inclusive growth, job creation, and poverty reduction, but their success will depend on aligning them with critical structural reforms,” he noted.
The World Bank’s recommendations come at a time when Ghana is grappling with high public debt, fiscal pressures, and the need to sustain investor confidence as it continues to recover from recent economic shocks.
