IMF mission proposes release of US$6.08 million to Cabo Verde

Praia, 9 May (Inforpress) – The preliminary conclusions of the mission by the technical team from the International Monetary Fund (IMF), published today, propose to the IMF board of directors the release of US$6.08 million to Cabo Verde under the Extended Credit Facility.

The data were released to the press by the IMF’s head of mission for Cabo Verde, Justin Tyson, at the end of this nine-day assignment, which also served for the institution to discuss with the national authorities the implementation of the country’s economic reform agenda, under the Extended Credit Facility Program (ECF) supported by the Fund.

The IMF mission classified Cabo Verde’s performance within the framework of the program as robust, noting that the economy recovered strongly in 2022, to the point of registering growth of 17.7 percent (%), marked by the decline in the primary deficit to 1 .9% of GDP, due to the decrease in debt in relation to GDP, and improvement in the current account.

Justin Tyson underlined, in his communication, that “international reserves remained at adequate levels to protect the indexation to the Euro”, ensuring that “the authorities used monetary and budgetary policy to support the recovery and mitigate the effects of the crisis on the most vulnerable”.



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