Cabo Verde: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde
IMF Staff Country Reports, November 29, 2016
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- Cabo Verde: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde
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Bibliographic details
- Published: November 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475557718.002
Economic performance (2014–2015)
- Economic growth in 2015 stagnated at 1.5 percent.
- Growth in 2014 was 1.9 percent.
- Tourism recovered in 2015.
- Remittances remained robust in 2015.
- Foreign direct investment (FDI) slowed in 2015.
- Public investment slowed in 2015.
Labor market
- Unemployment rate declined to 12.4 percent in 2015.
- Youth unemployment declined but remained high at 28.6 percent in 2015.
Inflation and prices
- Consumer price inflation averaged 0.1 percent for 2015.
- Inflation remained muted owing to lower food and energy prices.
Outlook and 2016 forecast
- Growth in 2016 is forecast to recover to 3.2 percent.
- Drivers of the 2016 recovery are projected to include FDI, domestic demand, agriculture, and tourism.
- Tourism in 2016 is expected to benefit from the mild upswing in Europe.
Subject areas and keywords covered
- Subject: Credit, External debt, Fiscal consolidation, Fiscal policy, Money, National accounts, Public debt, Public investment and public-private partnerships (PPP)
- Keywords include: accommodative monetary policy stance, Cabo Verdean authorities, consumer price inflation, CR, Credit, credit growth, debt, Europe, Fiscal consolidation, GDP, Global, government securities market, investment program, ISCR, private sector, Sub-Saharan Africa