The economy of Cabo Verde has been growing at a fast pace over the last four years. The authorities have maintained macroeconomic stability and advanced reforms, though climate risks, SOE pressures, and global uncertainties remain. Economic growth is projected at 5.2 percent in 2025, following...

The Direction of Planning (DNP) of the Ministry of Finance has sought Technical Assistance from ICD to help develop capacity for public debt projections and analysis. Pre-scoping and pre-mission meetings revealed that there was no single unit responsible for producing public debt projections. It...

The Direction of Planning (DNP) of the Ministry of Finance has sought Technical Assistance from ICD to help develop capacity for public debt projections and analysis. Pre-scoping and pre-mission meetings revealed that there was no single unit responsible for producing public debt projections. It...

"Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO's Trade Policy Review Body. The opening...

Economic growth is estimated to have accelerated to 7.3 percent in 2024, driven by the strong performance of the service sector-particularly tourism-and a recovery in agricultural activity after nearly seven years of drought. The service sector contributed 5.4 percentage points-or 70 percent-of...

Cabo Verde has long been a story of economic success, but growth decelerated in the last decade and has become more volatile - with implications for fiscal performance. Economic growth and social indicators improved significantly after the country's independence from Portugal in 1975, driven by...

The International Monetary Fund (IMF) provided technical assistance to the Banco Cabo Verde (BCV) on reforming and operationalizing its bank resolution framework. Cabo Verde's special resolution regime (SRR) has been in place since 2014, with the BCV serving as the Resolution Authority. It has...

This report aims to contribute to fill those gaps, analyzing the tourism chain and SMEs access to finance the three African countries where tourism is a major economic sector: Cabo Verde, Sao Tome and the Gambia

Cabo Verde's recent strong economic growth is driven by tourism, exports, private consumption, and remittances, but hampered by slow government investment. The government has maintained macro-financial stability but faces risks from global uncertainties, supply chain issues, and commodity price...

This report identifies circular economy (CE) opportunities in the tourism sector in Cabo Verde, The Gambia, and Säo Tomé & Principe. The project focuses on enhancing circularity by advocating for policy changes, phasing out single-use plastics (SUP), and promoting innovative infrastructure and...

Cabo Verde's climate exposure, partly also because of its geography, is compounded by economic vulnerabilities. The country has experienced robust economic growth since the early 1990s and achieved a substantial reduction in poverty, but growth has been volatile and has slowed in recent years....

This paper presents Cabo Verde’s Sixth Review under the Extended Credit Facility (ECF) Arrangement, Request for Extension and Augmentation of the Arrangement, Request for Extension of the Arrangement under the Resilience and Sustainability Facility (RSF), Rephasing of Availability Dates, and...

Cabo Verde's economy has recovered well from the significant challenges of the COVID-19 pandemic. However, the pandemic highlighted the country's inherent vulnerabilities, which include the economy's heavy reliance on tourism, lack of shock buffers, and the risks posed by underperforming SOEs....

The Country Opinion Survey in Cabo Verde assists the World Bank Group (WBG) in better understanding how stakeholders in Cabo Verde perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private...

Study abroad migration is the fastest growing international migration flow. However, the college completion rates of students from low-income countries are often modest in OECD countries, raising the hypothesis that these migrants are poorly informed about the costs and benefits of their...

Cabo Verde faces development challenges from multiple structural factors, including insularity, territorial discontinuity, fragility of ecosystems, and scarcity of natural resources, namely water and arable land. Climate change implications are amplifying these challenges. As an island extension...

This technical report discusses the findings and recommendations of the Climate Public Investment Management Assessment (PIMA) of Cabo Verde (CPV) undertaken in March 2023. Progress has been made in the development of a comprehensive climate change policy framework, spatial planning,...

Cabo Verde faces development challenges from multiple structural factors, including insularity, territorial discontinuity, fragility of ecosystems, and scarcity of natural resources, namely water and arable land. Climate change implications are amplifying these challenges. As an island extension...

This paper presents Cabo Verde's Third Review under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Request for an Arrangement under the Resilience and Sustainability Facility. Performance under the economic reform program is strong, and the...

The study aims to determine the opportunity for Cabo Verde in yacht tourism and provide investment and policy recommendations for Cabo Verde to achieve its potential in this sector. Cabo Verde is a relative newcomer in the yacht tourism industry. With only one marina in the country, the industry...

This study aims to evaluate the impact of the Entrepreneurship Curriculum Programme (ECP) on students' entrepreneurial attitudes, perception of social norms and entrepreneurial intentions. This programme was implemented in upper-secondary level classes in Cabo Verde. The study also assesses if...

This Technical Assistance report on Cabo Verde explores Consumer Price Index (CPI). Current CPI weights are based on expenditure data collected during the 2015 household income and expenditure survey. These data are out of date and there is urgent need to update CPI weights. Overall, the methods...

This paper presents Cabo Verde's 2023 Article IV Consultation, Second Review under the Extended Credit Facility Arrangement, and Request for Modification of a Performance Criterion. Cabo Verde remains vulnerable to external shocks and climate related disruptions and the significant gains...

This paper presents Cabo Verde's First Review under the Extended Credit Facility (ECF) Arrangement. The strong and broad-based recovery of the Cabo Verde economy continued in 2022. The economy has now recorded five consecutive quarters of positive growth, supported by a rebound in the tourism...

This report is the result of an assessment of the gender dimensions of current tourism development in Cabo Verde. The report's recommendations aim to ensure the project has a gender-responsive approach that positively impacts gender equality in the tourism and blue economy sectors. The report...

Cabo Verde is a young, small, and vibrant island nation with an open economy. Rising above its daunting geographical challenges and limited endowments, the country is a story of economic success. Reforms to the rule of law and the market have prompted significant economic and social progress...

The World Bank, in coordination with the Government of Cabo Verde, has partnered with the Adventure Travel Trade Association (ATTA) to develop a research study about the current status of the adventure tourism sector in Cabo Verde, particularly the hiking segment. The purpose of this research is...

This paper presents Cabo Verde's Request for an Arrangement under the Extended Credit Facility. Cabo Verde's economy is facing significant challenges associated with the lingering effects of the global pandemic, as well as rising food and fuel prices due to the war in Ukraine and the impact of...

A World Bank mission undertook applied the Debt Management Performance Assessment (DeMPA) methodology to evaluate the government's debt management (DM) capacity and institutions in Cabo Verde during March 28 to April 5, 2022. The assessment covers the legal, institutional, and regulatory...

The second Economic Update for Cabo Verde focuses on the importance of returning to fiscal sustainability in the aftermath of the COVID-19 crisis and on the potential role of Information and Communications Technology (ICT) in strengthening the foundations for a sustainable and inclusive economic...

This chapter investigates residents' perception of tourism development on the small tourist island of Santiago, Cape Verde, during the crisis caused by the COVID-19 pandemic. Specifically, it shows how the pandemic situation is affecting residents' perceptions of tourism impacts, their quality...

To analyze the effects of government debt securities on the liquidity risk and profitability of banks in Cape Verde, this research employs an unbalanced panel dataset from 2000 to 2017 on the activity of all commercial banks operating at the end of 2017 (seven in total). The study employs models...

A technical assistance (TA) mission on Government Finance Statistics (GFS) and Public Sector Debt Statistics (PSDS) visited the city of Praia, Republic of Cabo Verde, from July 22 to August 2, 2019, with the aim of putting more and better-quality fiscal data -particularly on PSDS - in the hands...

At the request of the IMF's African Department (AFR) and the Bank of Cabo Verde (BCV), a monetary and financial statistics (MFS) remote technical assistance (TA) mission from the IMF's Statistics Department (STA) took place during January 18-29, 2021. The main objective of the mission was to...

The Cabo Verdean economy is in recession as a result of the economic impact of the pandemic that has shut down the tourism and transport sectors and significantly affected the rest of the economy. The number of COVID-19 cases continues to rise with concentration in the largest island, though the...

Limited land and resources, along with the overexploitation of tourism and multiple other factors, make peripheral and ultra-peripheral territories relevant cases for studying governance and sustainable development. This book presents case studies of European and Mediterranean regions to study...

The Country Opinion Survey in Cabo Verde assists the World Bank Group (WBG)in gaining a better understanding of how stakeholders in Cabo Verde perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the...

To analyze the effects of government debt securities on the liquidity risk and profitability of banks in Cape Verde, this research employs an unbalanced panel dataset from 2000 to 2017 on the activity of all commercial banks operating at the end of 2017 (seven in total). The study employs models...

In November 2019, the Brazilian government introduced, as part of an employment stimulus package, the Contrato Verde Amarelo (CVA), a wage subsidy program for young first-time employees entering in contracts of up to 1.5 minimum wages. Despite CVA did not pass the final senate vote and,...