IMF Office in Cabo Verde

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At a glance

• Current IMF membership: 190 countries

• Cabo Verde joined the IMF on November 20, 1978

• Total Quotas: SDR 23.7 million

• Outstanding Purchases and Loans: 46.22 million (March 31, 2023)

• Article IV/Country Report  July 18, 2023

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News and Highlights

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Cabo Verde and the IMF

• Cabo Verde: 2023 Article IV Consultation, Second Review Under the Extended Credit Facility Arrangement, and Request for Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde

  July 18, 2023

  Series:Country Report No. 2023/262
  

• IMF Executive Board Concludes 2023 Article IV Consultation and Second Review Under the Extended Credit Facility Arrangement with Cabo Verde

  June 23, 2023

  The Executive Board of the International Monetary Fund (IMF) completed the 2023 Article IV Consultation and Second Review of Cabo Verde’s performance under the 36-month Extended Credit Facility (ECF) that was approved on June 15, 2022. The completion of the review allows the authorities to draw the equivalent of SDR 4.50 million (about US$ 6.00 million). This brings the total IMF financial support disbursements under the arrangement to SDR 27.02 million (about US$36.23 million).

• IMF Staff Completes 2023 Article IV Consultation and Second Review under the Extended Credit Facility Arrangement with Cabo Verde

  May 9, 2023

  “Cabo Verde’s performance under the program is solid. The economy rebounded strongly in 2022 growing 17.7 percent, the primary deficit narrowed to 1.9 percent of GDP, the debt-to-GDP ratio declined, the current account improved, and international reserves were adequate to protect the currency peg. The authorities used monetary and fiscal policy to support the recovery and cushion the impact of the crisis on the most vulnerable.

• Economic Growth in Sub-Saharan Africa Could Permanently Decline if Geopolitical Tensions Escalate

  May 1, 2023

  Countries will need to build resilience to manage the inevitable shifts in trade and foreign direct investment.

• Cabo Verde: First Review Under the Extended Credit Facility Arrangement-Press Release; and Staff Report

  January 24, 2023

  Series:Country Report No. 2023/044
  

More

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Regional Economic Outlook

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Departmental Papers on Africa

The Departmental African Paper Series covers research on sub-Saharan Africa conducted by International Monetary Fund (IMF) staff, particularly on issues of broad regional or cross-country interest. The views expressed in these papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF Management.

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Fraudulent Scam Emails

We would like to bring to the notice of the general public that several variants of financial scam letters purporting to be sanctioned by the International Monetary Fund (IMF) or authored by high ranking IMF officials are currently in circulation, and may appear on official letterhead containing the IMF logo. The scam letters instruct potential victims to contact the IMF for issuance of a “Certificate of International Capital Transfer” or other forms of approval, to enable them receives large sums of monies as beneficiaries. The contact e-mail information is always BOGUS and unsuspecting individuals are then requested to send their personal banking details which the scammers utilize for their fraudulent activities.
For more information please see Fraudulent Scam Emails Using the Name of the IMF