Cabo Verde: Staff Report for the 2019 Article IV Consultation and Request for an Eighteen-Month Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde

International Monetary Fund

No 2019/255, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Cabo Verde’s 2019 Article IV Consultation and Request for an Eighteen-Month Policy Coordination Instrument (PCI). The PCI aims at bolstering macroeconomic stability through fiscal consolidation and growth-enhancing reforms to support medium-term fiscal and debt sustainability. Policy discussions and the PCI-supported program focused on achieving medium-term fiscal and debt sustainability; modernizing the monetary policy framework and continuing to build precautionary reserves; bolstering the financial system resilience; restructuring lossmaking State-Owned Enterprises; and advancing structural reforms to support private sector-led growth. The medium-term outlook is positive although risks are tilted to the downside. Economic growth is projected to remain robust while the fiscal and external positions are expected to improve further, underpinned by growth and programmed structural reforms.

Keywords: ISCR; CR; monetary policy transmission mechanism; transmission mechanism; Cabo Verde's risk; debt; outlook; macroeconomic situation; inflation development; risk of debt distress; Cabo Verde's economy; broad money; Debt sustainability; Debt sustainability analysis; Structural reforms; Global; Europe; Africa; South America; North America (search for similar items in EconPapers)
Pages: 104
Date: 2019-07-31
New Economics Papers: this item is included in nep-mac
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