Cape Verde: Second Review Under the Policy Support Instrument and Request for Waivers of Nonobservance of Assessment Criteria: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Cape Verde.
IMF Staff Country Reports, February 3, 2012
Source details
- Canonical URL
- Cape Verde: Second Review Under the Policy Support Instrument and Request for Waivers of Nonobservance of Assessment Criteria: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Cape Verde.
Other formats
Bibliographic details
- Published: February 3, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463935788.002
Key findings and assessment
- The authorities have tightened fiscal and monetary stances and have significantly reduced the gaps with program targets.
- Tax revenues held up well.
- There were shortfalls in nontax revenue in addition to capital transfers.
- Spending execution was held below the budget.
- The authorities need to scale back the fiscal deficit in 2012 and in the medium term to ensure a sustainable fiscal position.
- Net domestic financing of the central government should decline to avoid crowding out private sector credit and lessen pressure on the balance of payments.
Policy recommendations and priorities
- Scale back the fiscal deficit in 2012.
- Scale back the fiscal deficit in the medium term to ensure a sustainable fiscal position.
- Reduce net domestic financing of the central government to:
- Avoid crowding out private sector credit.
- Lessen pressure on the balance of payments.
Thematic coverage and keywords
- Subject areas: Central banks, External debt, External position, Money, Public debt.
- Keywords included in the report: authorities' intention, CR, Credit, Executive Board's discussion, Executive Board's discussion of Cape Verde, fiscal policy, fiscal policy coordination, Foreign assets, Global, International reserves, ISCR, monetary policy, monetary policy stance, policy restraint, support private sector growth, West Africa.
Publication metadata (as reported)
- Publication date: February 3, 2012
- Series: Country Report No. 2012/029
- Issue: 029
- Pages: 58
- Volume: 2012
- DOI: https://doi.org/10.5089/9781463935788.002
- Stock No: 1CPVEA2012001
- ISBN: 9781463935788
- ISSN: 1934-7685
- Also Available in Portuguese
Source: IMF Staff Country Reports, "Cape Verde: Second Review Under the Policy Support Instrument and Request for Waivers of Nonobservance of Assessment Criteria: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Cape Verde."