Cape Verde: First Review Under the Policy Support Instrument and Requests for Waivers of Nonobservance and Modification of Assessment Criteria: Staff Report; Supplement; and Press Release

July 20, 2011

Preview Citation

Format: Chicago

Cape Verde: First Review Under the Policy Support Instrument and Requests for Waivers of Nonobservance and Modification of Assessment Criteria: Staff Report; Supplement; and Press Release, (USA: International Monetary Fund, 2011) accessed November 21, 2024

Summary

Cape Verde’s economic outlook and policy performance remain favorable. The government should complete implementation of the Public Investment Program (PIP), while reducing external debt. Executive Directors support efforts to rationalize and simplify the tax system and improve tax administration. The tight stance of monetary policy is constraining the growth of private credit to stabilize foreign reserves. The new banking law and finalizing the National Social Security Institute’s investment policy guidelines are necessary. Enhancing labor market flexibility will support the government’s transformation agenda. Risks to the program remain manageable.

Subject: Central Banks, External debt, Financial institutions, Money, Public debt

Keywords: Cape Verde's PSI, Capital expenditure, Commercial banks, CR, Credit, Domestic borrowing, Executive board's decision, Global, IMF's framework, International reserves, ISCR, State

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/254
Stock No:

1CPVEA2011001
ISBN:

9781462340569
ISSN:

1934-7685

Notes

Also Available in Portuguese

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