IMF praises Cape Verde’s economic and financial policies

25 May 2010

Praia, Cape Verde, 25 May – The economic and financial policies of the Cape Verdean government over t the last year have been “prudent” and “positive” the deputy director of the Africa Division of the International Monetary Fund (IMF), Valerie Cerra said Monday in Praia.

At the end of an 11-day mission to assess the results of the Policy Support Instrument (PSI), Cerra also said that Cape Verde had managed to face down the world financial crisis, “having consolidated the necessary prudent economic measures, achieving positive results.”

According to Cerra the results of the evaluation showed that Cape Verde is progressing well, as it was able to impose “appropriate” fiscal policies, “fair” social policies and “positive” public investment policies, making it possible to maintain economic growth and generate more revenue.

Monetary policy, the IMF official said, had remained “stable” and, if confidence were maintained, Cape Verde would continue to have the support of international financial organisations, as it had fulfilled all the agreements it had signed.

Cape Verdean Finance Minister, Cristina Duarte noted that this was the eighth consecutive positive evaluation since Cape Verde had signed the PSI with the IMF in 2006 and added that, the evaluation had included detailed analysis of fiscal, monetary and economic policies. (macauhub)