## Cabo Verde: First Review Under the Policy Coordination Instrument and Request for Modification of Targets

_IMF Staff Country Reports, April 23, 2020_

## Source details

**Canonical URL:** [Cabo Verde: First Review Under the Policy Coordination Instrument and Request for Modification of Targets](https://www.imf.org/en/publications/cr/issues/2020/04/23/cabo-verde-first-review-under-the-policy-coordination-instrument-and-request-for-49371)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/04/23/cabo-verde-first-review-under-the-policy-coordination-instrument-and-request-for-49371/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/04/23/cabo-verde-first-review-under-the-policy-coordination-instrument-and-request-for-49371/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/04/23/cabo-verde-first-review-under-the-policy-coordination-instrument-and-request-for-49371/bundle-manifest.json)

## Bibliographic details
- Published: April 23, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513542225.002

---

### Program performance and implementation
- Performance under the PCI-supported program has been strong.
- All reform targets were met, with some measures put in place ahead of schedule.
- All end-September 2019 quantitative targets were met, except for the floor on tax revenue, missed by a narrow margin due to lower-than-projected taxes on international trade.

### COVID-19 impact, near-term risks, and outlook
- Economic prospects for 2020 are clouded by the expected impact of coronavirus disease 2019 (COVID-19).
- Channels of adverse impact: global economic downturn and travel restrictions which adversely affect tourism flows, foreign direct investment and remittances.
- The medium-term outlook remains positive although risks are tilted to the downside.
- Growth is expected to rebound in 2021 and return to the pre-COVID-19 medium-term trajectory of about 5 percent as the global economy recovers, and the authorities maintain their structural reform efforts to improve the business environment and build the economy’s resilience to adverse shocks.

### Policy recommendations and external support
- Coordinated support from Cabo Verde’s development partners will be needed to support the authorities’ efforts in addressing the economic and social impact of COVID-19.
- Continued structural reform efforts to improve the business environment and build resilience to adverse shocks are emphasized.

### Key statistics and document identifiers
- Pages: 63
- Volume: 2020
- Issue: 135
- Series: Country Report No. 2020/135
- DOI: https://doi.org/10.5089/9781513542225.002

*International Monetary Fund. African Dept. "Cabo Verde: First Review Under the Policy Coordination Instrument and Request for Modification of Targets", IMF Staff Country Reports 2020, 135 (2020).*

---

## Content in this bundle

- **1cpvea2020001**
  - [1cpvea2020001 (Markdown version)](/-/media/files/publications/cr/2020/english/1cpvea2020001.pdf.md){rel="alternate" type="text/markdown"}
  - [1cpvea2020001 (PDF)](/-/media/files/publications/cr/2020/english/1cpvea2020001.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2020/04/23/cabo-verde-first-review-under-the-policy-coordination-instrument-and-request-for-49371_