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

International Monetary Fund

No 2018/104, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; water utility company Electra; debt; debt ratio; Cabo Verdean authorities; Cabo Verde's economy; stance of the Banco de Cabo Verde; transmission mechanism; Credit; Fiscal consolidation; Global; Europe; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 76
Date: 2018-04-18
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