Cabo Verde:Second Review Under the Policy Coordination Instrument and Request for Modification of Targets

Second Review Under the Policy Coordination Instrument and Request for Modification of Targets

Volume/Issue: Volume 192020 Issue 297

Publication date: November 2020

ISBN: 9781513560816

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Finance , Economics- Macroeconomics , Public Finance , ISCR , CR , Cabo Verde economy , reform implementation effort , Cabo Verde's economy , borrowing policy , Cabo Verde's vulnerability , SOEs reform , vulnerabilities to plunge , advance SOEs , Cabo Verdean authorities , growth prospect , COVID-19 , Debt sustainability analysis , Global , Southern Europe , Sub-Saharan Africa

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Summary

The Cabo Verdean economy is facing considerable challenges stemming from the impact of the COVID-19 pandemic. Prior to the health crisis, economic growth was robust, the fiscal and external positions were improving, reserves were at comfortable levels, and public debt was on a downward trajectory. The pandemic is threatening to erode these gains and has generated significant financing needs. The authorities have been implementing policy and healthcare measures to address the fallout of the pandemic and protect vulnerable groups while seeking to safeguard macroeconomic stability.