IMF Staff Country Reports

Cabo Verde: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde

Publication Date:

April 18, 2018

Electronic Access:

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Summary:

This 2018 Article IV Consultation highlights that the economic recovery in Cabo Verde is gaining momentum, reflecting a more favorable external environment and the payoff of ongoing economic reforms. In 2017, the economy is estimated to have expanded by 4 percent supported by the double digit-growth in tourist arrivals, the recovery in credit to the private sector, and stronger consumer and business confidence. These factors are expected to boost growth further to 4.3 percent in 2018. Over the medium term, real GDP growth is projected to stabilize at about 4 percent. Financial stability indicators have improved but the level of nonperforming loans remains elevated.

Series:

Country Report No. 2018/104

Subject:

Credit Debt sustainability analysis External debt Fiscal consolidation Fiscal policy Money Public debt Revenue administration