Cabo Verde: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde

November 29, 2016

Preview Citation

Format: Chicago

Cabo Verde: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Summary

This 2016 Article IV Consultation highlights that the economic growth of Cabo Verde in 2015 stagnated at 1.5 percent, slightly below the 1.9 percent registered in 2014. Tourism recovered and remittances remained robust, but foreign direct investment (FDI) and public investment slowed. The unemployment rate declined to 12.4 percent, as did youth unemployment, which nevertheless remained high at 28.6 percent. Consumer price inflation remained muted owing to lower food and energy prices, averaging 0.1 percent for 2015. In 2016, growth is forecast to recover to 3.2 percent supported by FDI, domestic demand, agriculture, and tourism, which should benefit from the mild upswing in Europe.

Subject: Credit, External debt, Fiscal consolidation, Fiscal policy, Money, National accounts, Public debt, Public investment and public-private partnerships (PPP)

Keywords: Accommodative monetary policy stance, Cabo Verdean authorities, Consumer price inflation, CR, Credit, Credit growth, Debt, Europe, Fiscal consolidation, GDP, Global, Government securities market, Investment program, ISCR, Private sector, Sub-Saharan Africa

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/366
Stock No:

1CPVEA2016001
ISBN:

9781475557718
ISSN:

1934-7685

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