Cabo Verde

Following a long period of high growth, improved living standards and poverty reduction that lasted through the 2008 global financial crisis, Cabo Verde has been facing the challenge of low growth until recently and high public debt, also driven by key State-Owned Enterprises’ (SOEs) losses. To consolidate recent gains and address remaining challenges, the authorities are implementing an ambitious reform agenda under their Strategic Plan for Sustainable Development (PEDS). In this context, they are requesting IMF support through a program under the Policy Coordination Instrument (PCI) for 18 months.