Cape Verde:Selected Issues and Statistical Appendix

Author: International Monetary Fund

Selected Issues and Statistical Appendix

Volume/Issue: Volume 2005 Issue 319

Publication date: September 2005

ISBN: 9781451956092

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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.

Banks and Banking , Exports and Imports , Finance , Money and Monetary Policy , Emigration and Immigration , ISCR , CR , rate , emigrant deposit , deposit , bank , loan , ED flow , banking system , Banco Totta de Cabo Verde , return on equity , lending rate , emigrant savings deposit , Commercial banks , Migration , Loans , Credit , Global , Europe , Sub-Saharan Africa

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Summary

The Selected Issues paper and Statistical Appendix on Cape Verde review determinants of emigrant deposits (ED). EDs have provided a substantial source of foreign exchange to the Cape Verdean economy, and have been vital in maintaining the fixed exchange rate. Prospects for growth in Cape Verde are improving and immigration legislation abroad is tightening. Both trends argue against further accumulation of ED. Among the developments in favor of ED, of considerable importance is their past stability, the limited convertibility of deposits, the favorable business outlook, and the stable political climate.