{
  "title": "Cabo Verde: Request for an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde",
  "publication": "IMF Staff Country Reports, July 21, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113",
  "overlayPath": "/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/index.md",
  "summary": "This paper presents Cabo Verde’s Request for an Arrangement under the Extended Credit Facility. Cabo Verde’s economy is facing significant challenges associated with the lingering effects of the global pandemic, as well as rising food and fuel prices due to the war in Ukraine and the impact of the o",
  "sections": [
    {
      "heading": "Major economic challenges",
      "content": "- Lingering effects of the global pandemic (coronavirus disease 2019).\n- Rising food and fuel prices due to the war in Ukraine.\n- Impact of the ongoing five-year drought.\n- High vulnerability to the effects of climate change."
    },
    {
      "heading": "Objectives of the financing package",
      "content": "- Mitigate the lingering impact of the coronavirus disease 2019 pandemic and the spillover effects of the war in Ukraine.\n- Reduce the fiscal deficit and preserve debt sustainability.\n- Protect vulnerable groups.\n- Support a reform agenda that leads to higher and more inclusive growth."
    },
    {
      "heading": "Key policy actions under the program",
      "content": "- Measures to boost revenue and improve the efficiency of spending.\n- Strengthen state-owned enterprises to mitigate fiscal risks.\n- Continue modernizing the monetary policy framework.\n- Safeguard financial stability."
    },
    {
      "heading": "Development plan and private sector growth",
      "content": "- Steadfast implementation of the authorities’ development plan is intended to improve the business environment and support private sector-led growth."
    },
    {
      "heading": "Climate adaptation and resilience",
      "content": "- Planned bold steps to climate adaptation are highlighted as key to boosting the economy’s resilience and growth potential given Cabo Verde’s high vulnerability to climate change."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: External debt, International organization, Monetary policy, Public debt\n- Keywords: Africa, Cabo Verdean authorities, central bank of Cabo Verde, Debt service, Debt sustainability, Debt sustainability analysis, ECF arrangement, fiscal consolidation plan, Global, government securities market, Sub-Saharan Africa, transmission mechanism\n\nSource: Cabo Verde: Request for an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde (IMF Staff Country Reports, July 21, 2022).\n\n---\n\n Content in this bundle\n\n- 1cpvea2022001\n  - 1cpvea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1cpvea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/bundle-manifest.json)",
    "Published: July 21, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400214998.002",
    "Lingering effects of the global pandemic (coronavirus disease 2019).",
    "Rising food and fuel prices due to the war in Ukraine.",
    "Impact of the ongoing five-year drought.",
    "High vulnerability to the effects of climate change.",
    "Mitigate the lingering impact of the coronavirus disease 2019 pandemic and the spillover effects of the war in Ukraine.",
    "Reduce the fiscal deficit and preserve debt sustainability.",
    "Protect vulnerable groups.",
    "Support a reform agenda that leads to higher and more inclusive growth.",
    "Measures to boost revenue and improve the efficiency of spending.",
    "Strengthen state-owned enterprises to mitigate fiscal risks.",
    "Continue modernizing the monetary policy framework.",
    "Safeguard financial stability.",
    "Steadfast implementation of the authorities’ development plan is intended to improve the business environment and support private sector-led growth.",
    "Planned bold steps to climate adaptation are highlighted as key to boosting the economy’s resilience and growth potential given Cabo Verde’s high vulnerability to climate change.",
    "Subject: External debt, International organization, Monetary policy, Public debt",
    "Keywords: Africa, Cabo Verdean authorities, central bank of Cabo Verde, Debt service, Debt sustainability, Debt sustainability analysis, ECF arrangement, fiscal consolidation plan, Global, government securities market, Sub-Saharan Africa, transmission mechanism",
    "**1cpvea2022001**"
  ],
  "related": [
    {
      "title": "1cpvea2022001",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2022/english/1cpvea2022001.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2022/english/1cpvea2022001.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2022/english/1cpvea2022001.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/index.md",
    "json": "/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/index.json",
    "bundleManifest": "/en/publications/cr/issues/2022/07/21/cabo-verde-request-for-an-arrangement-under-the-extended-credit-facility-press-release-521113/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-12T11:04:44.343Z"
}