Cape Verde:Second Review Under the Poverty Reduction and Growth Facility Arrangement

Second Review Under the Poverty Reduction and Growth Facility Arrangement
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Volume/Issue: Volume 2003 Issue 229
Publication date: July 2003
ISBN: 9781451809350
$20.00
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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Policy - Social Services and Welfare , ISCR , CR , broad money growth , staff appraisal , PRGF loan , authority , end-period basis , PRGF arrangement , Poverty reduction strategy , International reserves , Arrears , Credit , Africa , Global

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Summary

Executive Directors commend the government for their continued commitment to restore macroeconomic stability and implement structural reforms to establish the foundation for high rates of economic growth and poverty reduction. The medium-term economic strategy is appropriate. The risks to the program are acceptable. The implementation of the value-added tax and the new customs tariffs have been subject to repeated delays. The measures to stem the losses of wholly state-owned public enterprises have been commended. Cape Verde's statistical system remains weak, but is improving.