Cape Verde: Staff;StSeventh Review Under the Policy Support Instrument-Staff Report; aff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Cape Verde

International Monetary Fund

No 2009/328, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Seventh Review Under the Policy Support Instrument for Cape Verde. All assessment criteria were met with a margin, and all but three structural benchmarks were met. Growth is holding up at 4 percent in 2009, and inflation is low. The authorities have responded to the global crisis by accelerating their largely externally financed investment program and by tightening monetary policy. IMF staff recommends completing the seventh review and modifying year-end assessment criteria on net international reserves, nonconcessional external borrowing, and domestic borrowing.

Keywords: ISCR; CR; fiscal policy coordination; monetary policy transmission mechanism; transmission mechanism; deficit; tax International Monetary Fund base; IMF's framework; external borrowing; accounts payable; Credit; International reserves; Debt sustainability; Monetary base; Global (search for similar items in EconPapers)
Pages: 71
Date: 2009-12-18
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