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....

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 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

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...

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...

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...

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...

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...

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....

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...

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 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...

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 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 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...

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...

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...

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...

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,...

The Cabo Verdean economy is facing considerable challenges stemming from the impact of the COVID-19 pandemic. Prior to the health crisis, economic growth was robust, the fiscal and external positions were improving, reserves were at comfortable levels, and public debt was on a downward...

In Cape Verde, despite the existence of an exceptional renewable potential, namely wind and solar photovoltaic, estimated, by Gesto (2011), at 258 MW and 315 MW respectively, in 2017 82.2% of the electric energy was generated using fossil fuels. In this work, we propose to explore the...

This paper highlights Cabo Verde's First Review Under the Policy Coordination Instrument (PCI) and Request for Modification of Targets. Performance under the PCI-supported program has been strong. All reform targets were met, with some measures put in place ahead of schedule; and all...

This paper presents Cabo Verde's Request for Disbursement Under the Rapid Credit Facility (RCF). Mitigating measures taken by the authorities are aimed at preventing an extensive spread of the pandemic, and helping the private sector, households and vulnerable groups mitigate the fallouts of the...

This paper discusses Cabo Verde's 2019 Article IV Consultation and Request for an Eighteen-Month Policy Coordination Instrument (PCI). The PCI aims at bolstering macroeconomic stability through fiscal consolidation and growth-enhancing reforms to support medium-term fiscal and debt...

"This book provides an analysis of the political economy of Cabo Verde from its independence in 1975 to the present. The collection serves as both a primary source and sociopolitical study, featuring some of the most accomplished scholars and policy practitioners on the subject matter of the...

This dataset contains tax revenue collected by Cabo Verde. It provides detailed tax revenues by sector (Supranational, Federal or Central Government, State or Lander Government, Local Government, and Social Security Funds) and by specific tax, such as capital gains, profits and income, property,...

This report presents new data on, and a comprehensive, cross-sectoral analysis of Cabo Verde's ocean economy. It examines economic and sustainability trends, assesses the country’s ocean governance architecture, and explores policies and financing instruments for a more sustainable ocean...

This 2018 Article IV Consultation highlights that the economic recovery in Cabo Verde is gaining momentum, reflecting a more favorable external environment and the payoff of ongoing economic reforms. In 2017, the economy is estimated to have expanded by 4 percent supported by the double...

This Selected Issues paper provides an overview of the nature and scope of corresponding banking relationships (CBRs) withdrawals in Cabo Verde and discusses policy options to address this challenge. The paper reports the results of a bank level survey and employs the minimum scope framework...