IMF mission concludes Cape Verdean economic assessment on Friday

5 June 2013

A mission of the international Monetary fund (IMF) is due Friday to end its assessment of the economic and financial situation of Cape Verde, where it has been since 31 May, according to the Cape Verdean press.

The mission, which was requested by the Cape Verdean government and whose members have met with officials and heads of a number of private and public institutions, is expected to pay particular attention to public debt as a percentage of Gross Domestic Product (GDP).

Last April, Cape Verde’s Finance and Planning Minister, Cristina Duarte, was in Washington, to, amongst other things, clear up the issue of Cape Verde’s public debt, which the IMF had initially said was the equivalent to 97 percent of GDP.

After the visit, Minister Duarte announced that the IMF had recognised its mistake and announced a figure of 81.2 percent of GDP, which was lower than the 83 percent figure announced by the archipelago’s National Statistics Institute (INE).

Cited by the press, the Minister for Finance and Planning gave assurances that despite being high Cape Verde’s public debt was still within sustainable levels. (macauhub)