Government considers IMF 63 million dollars funding for reform program as a sign of confidence

Praia, Jun 24 (Inforpress) – The Government considers that the availability of the IMF’s 63 million dollars for implementation of the structural economic reform programme in Cabo Verde from 2022 to 2025 represents a sign of confidence.

The program whose presentation took place on Thursday in the city of Praia is the Government’s initiative, which this time requested the IMF support under the Extended Credit Facility (ECF).

According to Deputy Prime Minister and Minister of Finance Olavo Correia, this macroeconomic policy agenda aims to cushion external shocks, improve macroeconomic stability, address macroeconomic imbalances, and the target is, by 2025, to have the country grow by 5 percent (%), with an inflation rate of 2 percent and public debt falling from the current 150 to 100% of GDP.

More than the amount, Olavo Correia stressed that this funding demonstrates the confidence of the International Monetary Fund (IMF) in the program and in the Government’s vision.
MJB / ZS / HVF
Inforpress

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