Cape Verde: Recent Economic Developments

July 19, 1999

Preview Citation

Format: Chicago

Cape Verde: Recent Economic Developments, (USA: International Monetary Fund, 1999) accessed September 18, 2024

Summary

This paper analyzes economic developments in Cape Verde during 1990–99. Although the GDP growth rates accelerated, unemployment remained at the high level of about 25 percent and fiscal policies, until 1996, unsustainably lax. This situation resulted in the rapid accumulation of domestic debt and the depletion of foreign reserves to a level as low as half a month of imports in early 1996. Largely as a result of fiscal contraction and droughts, growth rates of real GDP during 1996–98 seemed to have slowed down to some extent.

Subject: External debt, Financial institutions, Foreign exchange, National accounts, Prices

Keywords: Banking system, Central bank, Commercial banks, Consumer price, CR, Customs regime, Emergency contraction, Europe, Exchange rate, Foreign exchange, Global, Government, Government activity, Inflation, ISCR, Private sector, Structural adjustment, Western Europe

Publication Details

Pages:

97
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 1999/058
Stock No:

1CPVEA0011999
ISBN:

9781451809251
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports