Cabo Verde: Fourth Review of the Arrangement Under the Extended Credit Facility and First Review of the Arrangement Under the Resilience and Sustainability Facility and Request of Rephasing of Availability Dates-Press Release; and Staff Report

Cape Verde

WASHINGTON, 30 July 2024 / PRN Africa / -- Summary:Cabo Verde continues to recover well from recent shocks. The authorities have maintained macro stability and remain committed to the ECF and RSF objectives. Macroeconomic performance was strong in 2023 with real GDP growth at 5.1 percent, low inflation, and a prudent level of reserves to protect the peg. The public debt-to-GDP ratio continues on a downward path, reflecting growth and a record 2023 primary surplus. The country is politically stable.

SOURCE International Monetary Fund (IMF)