Cape Verde: Selected Issues

July 24, 2008

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Format: Chicago

Cape Verde: Selected Issues, (USA: International Monetary Fund, 2008) accessed November 23, 2024

Summary

This Selected Issues paper examines macroeconomic challenges for a highly tourism-based economy such as Cape Verde. The changing structure of Cape Verde’s balance-of-payments financing calls for a closer look at the volatility of remittances and their role as an absorber of economic shocks. The paper finds that compared with other external inflows, remittances continue to be a reliable source of foreign financing, but they are declining in importance. It also shows that this influence seems to be gradually fading, and remittances are becoming increasingly procyclical.

Subject: Balance of payments, Economic sectors, Foreign exchange

Keywords: Cape Verde exchange rate regime, Cape Verdean economy, Conventional peg, CR, Europe, Exchange rate arrangements, GDP in Cape Verde, Global, Growth cycle, ISCR, Openness of Cape Verde's economy, Portfolio investment motivation, Remittances, Remittances to Cape Verde, Smoothing consumption, Sub-Saharan Africa, Tourism, Volatility in Cape Verde, Years remittance

Publication Details

Pages:

25
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/243
Stock No:

1CPVEA2008003
ISBN:

9781451809480
ISSN:

1934-7685

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