IMF to assess Cape Verde’s economic performance over two weeks

6 March 2007

Praia, Cape Verde, 6 March – A mission from the International Monetary Fund (IMF) Monday began a two-week evaluation of the Policy Support Instrument (PSI) in Cape Verde, officials said.

The aim of the program is to assess the economic and financial performance of Cape Verde, according to the commitments made by the government to the IMF.

According to the government, the PSI aims to support Cape Verde in consolidating its macroeconomic stability, in the transition process to a Medium Income Country and in dialogue with its development partners.

According to Leonesa Fortes, secretary of state for Finance and Public Administration, hitting the targets set by the IMF is fundamental to reach a level of budgetary consolidation that will increase the internal and external credibility of the country, and therefore Cape Verde should maintain its “budgetary discipline.”

Fortes explained that as it met IMF targets the country had received more support from international partners.

The IMF mission is expected to remain in Cape Verde for two weeks. (macauhub)