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International Monetary Fund

Background Samoa has achieved a major economic transformation over the last decade and a half. Real per capita GDP has increased by over 3 percent per year on average, and external public debt has fallen below 40 percent of GDP. The external position benefited from the rapid growth of remittances and tourism receipts. This performance owes to a broad-based reform program initiated in the early 1990s. These achievements have entitled Samoa to graduate from Less Developed Country (LDC) status. Macroeconomic conditions continue to be good. After a strong

International Monetary Fund

the duty- and quota-free access to the U.S. market that the African Growth and Opportunity Act (AGOA) has provided since 2000. Less-developed African countries that qualify for AGOA have received so-called LDC status, which relaxes the complex rules of origin until 2004. The LDC (less developed country) status is set to expire in 2004, even though AGOA itself will remain valid until 2008. 4. Lesotho’s textiles industry is at a critical juncture because of the envisaged phasing out of both the LDC status under AGOA and the quota regime under the MFA, which

International Monetary Fund
The staff report for the Second Review under the Policy Support Instrument (PSI) of Cape Verde discusses the macroeconomic framework and recent developments. Cape Verde’s economic program under the PSI is designed to help the country prepare for the opportunities and challenges associated with its graduation from the United Nations least-developed-country (LDC) status in 2008. IMF staff recommended, and the authorities agreed, that a comprehensive medium-term investment plan be prepared, including for state-owned enterprises. This approach would support prioritization of public investment and the planning needed to secure concessional external financing.
International Monetary Fund

I. I ntroduction 1. Cape Verde’s economic program under the Policy Support Instrument (PSI) is designed to help the country prepare for the opportunities and challenges associated with its graduation from UN least-developed-country (LDC) status in 2008 . The program emphasizes reducing macroeconomic risks, increasing the margin of protection against shocks, and preparing for a possible longer-term decline in access to concessional external financing. The main objectives are to increase foreign reserves, reduce domestic debt, and create fiscal space to meet

International Monetary Fund. Asia and Pacific Dept
This 2019 Article IV Consultation with Lao People’s Democratic Republic (P.D.R) analyses that after more than a decade of high growth with low inflation, country is solidifying its progress toward graduating from the Least Developed Country (LDC) status. However, more than one-fifth of the population remains poor, regional disparities are persistent, and recurring natural disasters pose risks for poverty reduction. A large current account deficit, low level of reserves, a high level of debt, managed exchange rate, and a dollarized banking system amplify macro-vulnerabilities. The authorities recognize the current economic challenges and their comprehensive reform programs aim at rebalancing the economy from a resource based to a more diversified growth model by investing in human development and improving competitiveness. Modernizing monetary governance and building reserves supported by greater exchange rate flexibility will help to mitigate external shocks in an uncertain global environment.
International Monetary Fund

The staff report for the Second Review under the Policy Support Instrument (PSI) of Cape Verde discusses the macroeconomic framework and recent developments. Cape Verde’s economic program under the PSI is designed to help the country prepare for the opportunities and challenges associated with its graduation from the United Nations least-developed-country (LDC) status in 2008. IMF staff recommended, and the authorities agreed, that a comprehensive medium-term investment plan be prepared, including for state-owned enterprises. This approach would support prioritization of public investment and the planning needed to secure concessional external financing.

International Monetary Fund

The staff report for the Second Review under the Policy Support Instrument (PSI) of Cape Verde discusses the macroeconomic framework and recent developments. Cape Verde’s economic program under the PSI is designed to help the country prepare for the opportunities and challenges associated with its graduation from the United Nations least-developed-country (LDC) status in 2008. IMF staff recommended, and the authorities agreed, that a comprehensive medium-term investment plan be prepared, including for state-owned enterprises. This approach would support prioritization of public investment and the planning needed to secure concessional external financing.

International Monetary Fund

The Executive Board of the International Monetary Fund (IMF) has completed the first review under a three-year Policy Support Instrument (PSI) for Cape Verde. The PSI was approved on July 31, 2006 (see Press Release No. 06/172). Cape Verde’s PSI is designed to help the country respond to the opportunities and challenges associated with its graduation from UN least-developed country (LDC) status in 2008. The program seeks to reduce macroeconomic risks, provide a margin of safety against exogenous shocks, and address the prospect of a longer-term decline in

International Monetary Fund

Portugal, Deputy Managing Director and acting Chair, stated: “The Cape Verde authorities' well-crafted program under the PSI is guided by the need to support macroeconomic stability and the exchange rate peg, reduce domestic debt, increase foreign reserves, and create fiscal space to accommodate the expected decline in concessional external financing as the country graduates from LDC status. “Cape Verde continues to demonstrate a strong economic performance, and the authorities are to be commended for their prudent macroeconomic management in recent years. Growth is

International Monetary Fund. Asia and Pacific Dept

. Nevertheless, gross international reserves remain low at about 1 month of prospective imports. The authorities have developed a reform agenda to address some of the vulnerabilities in the economy, with the goal of supporting stable and sustainable growth to graduate from Least Developed Country (LDC) status. Aware of the challenges presented by high public debt and deficits, they are moving to put in place a gradual fiscal consolidation mainly through tax policy and administration reforms. They are also moving to strengthen the banking system by recapitalizing and