## Joint Staff Assessment of the PRSP Preparation Status Report — Republic of Cape Verde

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### Background and timeline
- The Executive Boards of the IMF and IDA concluded in April 2002 that the government's interim PRSP provided a sound basis for developing a fully participatory PRSP and for Fund and World Bank concessional financial assistance.
- The authorities initially expected to complete the full PRSP by May 2003 but delayed completion until the second quarter of 2004.
- A first PRSP Preparation Status Report (PRSP PSR) and accompanying JSA were submitted; because the PRSP was not finished within one year of the initial PRSP PSR, the authorities prepared a second PRSP PSR for presentation to the Boards of the IMF and IDA.
- Relevant documents cited in the report: World Bank Report No. 26079-CV; International Monetary Fund document EBD/03/52 (June 11, 2003).
- The JSA was approved on July 21, 2004.

### Progress and achievements
- Staffs agree the second PSR accurately describes process progress since the initial PSR and that progress on the PRSP has been substantial.
- Institutional and analytical advances:
  - The executive secretariat for the PRSP, the STAD (formerly known as the Poverty Observatory), has recruited two staff and is operational.
  - The poverty analysis is well developed and benefited from the finalization of national income and product accounts through 2000.
  - Some sector strategies have been presented in greater detail.
  - A general Public Expenditure Review (PER) focused on education, health, and agriculture has been completed.
  - A Country Financial Accountability Assessment (CFAA) was completed and an action plan for the CFAA has been elaborated and is guiding implementation of key recommendations.
- Diagnostic work and stakeholder engagement:
  - The Council of Ministers reviewed a first draft of the PRSP in April 2004.
  - The authorities have shared the draft with stakeholders, including Bank and Fund staff.
  - The costing exercise emphasized participation from sector ministries, prolonging the exercise but reflecting staff support for participation.

### Remaining gaps and planned actions
- Identified gaps that require further work:
  - Strengthening linkages between sectoral and national strategies.
  - Developing critical components of the PRSP, including gaps in the macroeconomic framework, the costing exercise for the poverty reduction strategy, and a framework for monitoring and evaluation.
- Actions underway to address gaps:
  - The originally planned computer model proved better suited to long-term analysis; authorities secured Fund assistance to develop a medium-term macro framework for inclusion in the PRSP.
  - The monitoring and evaluation framework will draw on existing capacities, including parliamentary accountability and community-based participatory mechanisms; efforts will seek to reinforce the role of an independent court of accounts.

### Next steps, schedule, and recommendation
- Remaining process focus:
  - Finalizing the document and securing endorsement from the National Coordination Committee for the PRSP, the Council of Ministers, and domestic and external stakeholders.
- Schedule:
  - The authorities expect to complete a final (Portuguese) draft in July 2004, with the necessary approvals to be gained soon thereafter.
- Staff conclusion and recommendation:
  - The staffs of the World Bank and IMF consider that progress on development of the full PRSP, as evidenced by the PRSP PSR, is satisfactory and provides a sound basis for continued access to Fund concessional assistance and IDA adjustment lending.
  - The staffs recommend that the respective Executive Directors of the World Bank and the IMF reach the same conclusion.

*Joint Staff Assessment of the PRSP Preparation Status Report — Republic of Cape Verde (IMF and IDA), approved July 21, 2004.*

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_Source: https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2004/_cr04303.pdf_