Cover IMF Staff Country Reports
Cabo Verde: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cabo Verde
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 366
Language:
English
Publication Date:
29 Nov 2016
DOI:
https://doi.org/10.5089/9781475557718.002
ISBN:
9781475557718
ISSN:
1934-7685
Pages:
68
Keywords:
ISCR; CR; debt; GDP; private sector; credit growth; Cabo Verdean authorities; government securities market; investment program; accommodative monetary policy stance; consumer price inflation; Credit; Fiscal consolidation; Global; Europe; Sub-Saharan Africa
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This 2016 Article IV Consultation highlights that the economic growth of Cabo Verde in 2015 stagnated at 1.5 percent, slightly below the 1.9 percent registered in 2014. Tourism recovered and remittances remained robust, but foreign direct investment (FDI) and public investment slowed. The unemployment rate declined to 12.4 percent, as did youth unemployment, which nevertheless remained high at 28.6 percent. Consumer price inflation remained muted owing to lower food and energy prices, averaging 0.1 percent for 2015. In 2016, growth is forecast to recover to 3.2 percent supported by FDI, domestic demand, agriculture, and tourism, which should benefit from the mild upswing in Europe.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2016: Issue 366