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IMF Country Report No. 21/238
CABO VERDE
TECHNICAL ASSISTANCE REPORT—GOVERNMENT FINANCE STATISTICS AND PUBLIC SECTOR DEBT STATISTICS
November 2021
This Technical Assistance report on the Cabo Verde was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed in August 2021.
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Title Page
Cabo Verde
Report of the technical assistance mission on Government Finance Statistics and Public Sector Debt Statistics (July 22 – August 2, 2019)
August 2021
Prepared by Djaima Da Costa
The contents of this report constitute technical advice provided by the staff of the International Monetary Fund (IMF) to the authorities of Cabo Verde (the “TA recipient”) in response to their request for technical assistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMF Executive Directors and members of their staff, as well as to other agencies or instrumentalities of the TA recipient and, upon their request, to World Bank staff, and other technical assistance providers and donors with legitimate interest, unless the TA recipient specifically objects to such disclosure (see Operational Guidelines for the Dissemination of Technical Assistance Information). Publication or disclosure of this report (in whole or in part) or summaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient, World Bank staff, other technical assistance providers and donors with legitimate interest shall require the explicit consent of the TA recipient and the IMF Statistics Department.
Contents
ACRONYMS AND ABBREVIATIONSSUMMARY OF MISSION OUTCOMES AND PRIORITY RECOMMENDATIONS
INTRODUCTION
DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS
A. Coordination of the GFS and PSDS Compilation Process
B. Institutional Coverage
C. Data and the Respective Sources
D. Compilation of Government Finance Statistics
E. Compilation of Public Sector Debt Statistics
F. Consistency of the Data with other Macroeconomic Statistics
G. Resources, Training, and Technical Assistance H. Officials Met During the Mission
FIGURES
1. Public Sector of Cabo Verde
2. Public Debt Instruments and Institutional Coverage
TABLES
1. Priority Recommendations
2. Detailed Recommendations / Action Plan
3. BCG Statement of Sources and Uses of Cash
4. BCG Public Expenditure by Functions – COFOG
5. Differences in the GCV-GFSM 2014-AFR Fiscal Maps
6. Stock of Gross Public Debt by Instrument 2015–2018 – Preliminary
7. Stock of Gross Public Debt by Instrument and Sub-sector – Preliminary
8. BCG Stock of Guarantees
APPENDICES
I. Institutional Structure of General Government
II. Inventory of Public Sector Entities
III. Statistical Data and Sources
IV. Bridge Table – GFSM 2014 Codes vs. National Classification
V. Public Revenue of the Budgetary Central Government
VI. Public Expenditure of the Budgetary Central Government
VII. Transactions in Assets and Liabilities of the Budgetary Central Government
VIII. Listing of State-owned Enterprises Used in the PSDS Compilation
Acronyms and Abbreviations
| AFR | African Department of the IMF |
| ANMCV | National Association of Cabo Verdean Municipalities |
| BCG | Budgetary central government |
| BCV | Bank of Cabo Verde |
| GFSCC | Government Finance Statistics Compilation Committee |
| COFOG | Classification of the Functions of Government |
| CVE | Cabo Verde Escudo |
| D4D | Data for Decisions – Multiple Donor Trust Fund |
| DGPCP | General Directorate of Public Assets and Procurement |
| DGT | General Treasury Directorate |
| DNOCP | National Directorate of Budget and Public Accounts |
| DNP | National Planning Directorate |
| DNRE | National Directorate of State Revenues |
| DSA | Debt sustainability analysis |
| SOE | State-owned enterprise |
| GC | Central government |
| GCV | Government of Cabo Verde |
| GDP | Gross domestic product |
| GFS | Government finance statistics |
| GGA | General Government Account |
| GFSM 2014 | Government Finance Statistics Manual 2014 |
| IGF | General Inspectorate of Finance |
| IMF | International Monetary Fund |
| INE | National Institute of Statistics |
| INPS | National Social Security Institute |
| LG | Local government |
| MF | Ministry of Finance of Cabo Verde |
| ODINE | Delegated body of the National Institute of Statistics |
| OT | Treasury bonds |
| PES | Public enterprise sector |
| PNCP | National Chart of Public Accounts |
| PSDS | Public sector debt statistics |
| PSDSG 2011 | Public Sector Debt Statistics – Guide for Compilers and Users, 2011 |
| SDR | Special drawing rights |
| SIGOF | Integrated financial management system |
| SIM | Integrated municipal system |
| SISPS | Integrated social security system |
| SOF | DGT Financial Operations Department |
| SPAME | Macroeconomic foresight, monitoring, and statistics Division |
| SPSGP | Insurance, pension, and standardized guarantee systems |
| STA | Statistics Department of the IMF |
| TA | Technical assistance |
| TB | Treasury Bills |
| UASE | State Enterprise Sector Monitoring Unit |
| UEO | Extrabudgetary unit |
| UTIC | Technology, Innovation and Communication Unit |
