IMF Staff Country Reports

Cabo Verde: Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde

January 16, 2024

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Cabo Verde: Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde, (USA: International Monetary Fund, 2024) accessed December 24, 2024

Also available in: português

Summary

Cabo Verde has weathered the recent shocks well, and the authorities have been successful in maintaining macro-financial stability, supported by international partners. Despite a challenging global environment, Cabo Verde’s economy rebounded strongly in 2021 and 2022 and continues its strong macroeconomic performance in 2023.The near-term growth outlook is favorable despite some downside risks. Inflation is decelerating. The country is politically stable. However, Cabo Verde still faces substantial vulnerabilities. The public debt-to-GDP ratio though declining is still above pre-pandemic levels. Climate change poses a major threat, as Cabo Verde is one of the most water-scarce countries in the world.

Subject: Climate change, Environment, External debt, Fiscal risks, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration

Keywords: Cabo Verde's economy, Climate action, Climate change, Climate change adaptation, Fiscal risks, Global, Reform measure, RSF reform

Publication Details

  • Pages:

    142

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2024/009

  • Stock No:

    1CPVEA2024001

  • ISBN:

    9798400265129

  • ISSN:

    1934-7685

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