“The IMF Executive Board completed the first review under the 36-month Extended Credit Facility with Cape Verde, providing the country with access to 11.26 million SDRs (about US$15.19 million).
The strong and broad recovery of Cape Verde's economy continued into 2022. The economy has now recorded five consecutive quarters of positive growth, supported by a recovery in the tourism sector. This helped improve the fiscal position and put the debt-to-GDP ratio on a downward path. International reserves are adequate and the financial sector remains resilient.
It is important to continue efforts to preserve fiscal and debt sustainability and accelerate economic reforms, while helping the vulnerable and supporting economic recovery”- the document reads.
See the full Press Release: https://www.imf.org/en/News/Articles/2023/01/17/pr2305-imf-executive-board-completes-first-review-under-the-extended- credit-facility-for-cabo-verde
Source: Government of the Republic of Cape Verde