Cape Verde:First Review Under the Policy Support Instrument

Author: International Monetary Fund

First Review Under the Policy Support Instrument

Volume/Issue: Volume 2007 Issue 044

Publication date: February 2007

ISBN: 9781451809442

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , Cape Verde's PSI , fiscal policy , broad money , British government , Electra , cape Verdean authorities , cape Verdean authority , government-guaranteed external , obligations vis-à-vis Electra , International reserves , Arrears , Credit

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Summary

This paper discusses key findings of the First Review Under the Policy Support Instrument (PSI) for Cape Verde. The PSI seeks to reduce macroeconomic risks, provides a margin of safety against exogenous shocks, and addresses the prospect of a longer-term decline in highly concessional external support. Economic and policy performance remains strong. Growth projections for 2006 and 2007 have been revised upward, international reserves are accumulating rapidly, and inflation is falling more quickly than expected. The authorities reaffirm their commitment to the PSI policy objectives.