{
  "title": "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",
  "publication": "IMF Staff Country Reports, July 18, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/07/18/cabo-verde-2023-article-iv-consultation-second-review-under-the-extended-credit-facility-536530",
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  "summary": "This paper presents Cabo Verde’s 2023 Article IV Consultation, Second Review under the Extended Credit Facility Arrangement, and Request for Modification of a Performance Criterion.",
  "sections": [
    {
      "heading": "Major findings and context",
      "content": "- Cabo Verde remains vulnerable to external shocks and climate related disruptions.\n- Significant gains achieved so far need to be sustained over the medium term to:\n  - safeguard economic stability,\n  - build resilience, and\n  - promote inclusive growth.\n- Fiscal policy aims to balance:\n  - credible growth-friendly fiscal consolidations,\n  - preserving debt sustainability,\n  - protecting the vulnerable, and\n  - investing in future growth."
    },
    {
      "heading": "Fiscal policy, revenue, and debt management",
      "content": "- Priority actions highlighted:\n  - keep progress in domestic revenue mobilization,\n  - streamline tax exemptions,\n  - increase the effectiveness of public investment projects, and\n  - continue improving debt management.\n- Reform of public enterprises is critical to reduce fiscal risks."
    },
    {
      "heading": "Structural reforms and resilience",
      "content": "- Authorities are encouraged to continue an ambitious structural reform agenda to:\n  - adapt to the challenges posed by climate change,\n  - reduce the cost of doing business,\n  - strengthen social safety nets, and\n  - accelerate public enterprise reforms."
    },
    {
      "heading": "Policy recommendations (summarized)",
      "content": "- Advance domestic revenue mobilization measures.\n- Rationalize and streamline tax exemptions.\n- Enhance public investment project effectiveness and oversight.\n- Strengthen debt management practices.\n- Implement public enterprise reforms to contain fiscal risks.\n- Pursue broader structural reforms to improve climate resilience, competitiveness, and social protection.\n\nInternational Monetary Fund. 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\n\n---\n\n Content in this bundle\n\n- 1cpvea2023002\n  - 1cpvea2023002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1cpvea2023002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 18, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400250170.002",
    "Cabo Verde remains vulnerable to external shocks and climate related disruptions.",
    "Significant gains achieved so far need to be sustained over the medium term to:",
    "Fiscal policy aims to balance:",
    "Priority actions highlighted:",
    "Reform of public enterprises is critical to reduce fiscal risks.",
    "Authorities are encouraged to continue an ambitious structural reform agenda to:",
    "Advance domestic revenue mobilization measures.",
    "Rationalize and streamline tax exemptions.",
    "Enhance public investment project effectiveness and oversight.",
    "Strengthen debt management practices.",
    "Implement public enterprise reforms to contain fiscal risks.",
    "Pursue broader structural reforms to improve climate resilience, competitiveness, and social protection.",
    "**1cpvea2023002**"
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