{
  "title": "Cabo Verde: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde",
  "publication": "IMF Staff Country Reports, November 29, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/cabo-verde-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-44431",
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  "summary": "This 2016 Article IV Consultation highlights that the economic growth of Cabo Verde in 2015 stagnated at 1.5 percent, slightly below the 1.9 percent registered in 2014. Tourism recovered and remittances remained robust, but foreign direct investment (FDI) and public investment slowed.",
  "sections": [
    {
      "heading": "Economic performance (2014–2015)",
      "content": "- Economic growth in 2015 stagnated at 1.5 percent.\n- Growth in 2014 was 1.9 percent.\n- Tourism recovered in 2015.\n- Remittances remained robust in 2015.\n- Foreign direct investment (FDI) slowed in 2015.\n- Public investment slowed in 2015."
    },
    {
      "heading": "Labor market",
      "content": "- Unemployment rate declined to 12.4 percent in 2015.\n- Youth unemployment declined but remained high at 28.6 percent in 2015."
    },
    {
      "heading": "Inflation and prices",
      "content": "- Consumer price inflation averaged 0.1 percent for 2015.\n- Inflation remained muted owing to lower food and energy prices."
    },
    {
      "heading": "Outlook and 2016 forecast",
      "content": "- Growth in 2016 is forecast to recover to 3.2 percent.\n- Drivers of the 2016 recovery are projected to include FDI, domestic demand, agriculture, and tourism.\n- Tourism in 2016 is expected to benefit from the mild upswing in Europe."
    },
    {
      "heading": "Subject areas and keywords covered",
      "content": "- Subject: Credit, External debt, Fiscal consolidation, Fiscal policy, Money, National accounts, Public debt, Public investment and public-private partnerships (PPP)\n- 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\n\n---\n\n Content in this bundle\n\n- cr16366\n  - cr16366 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16366 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 29, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475557718.002",
    "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.",
    "Unemployment rate declined to 12.4 percent in 2015.",
    "Youth unemployment declined but remained high at 28.6 percent in 2015.",
    "Consumer price inflation averaged 0.1 percent for 2015.",
    "Inflation remained muted owing to lower food and energy prices.",
    "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: 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",
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