Cape Verde: Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Cape Verde
International Monetary Fund, Feb 10, 2005 - Business & Economics - 62 pages
This paper discusses Cape Verde’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Cape Verde’s economic and policy performance is largely on track vis-à-vis the PRGF objectives. All quantitative and structural performance criteria for end-June 2004 and all indicative targets for end-September 2004 were observed, as were all but three structural benchmarks. Of these three, one has now been met and the authorities are making progress toward complying with the other two. GDP growth of 4 percent is now expected in 2004.
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III Program Implementation Through September 2004
IV Report on the Discussion
V Discussion of a Successor Program
VI Statistical Issues
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adjusted African Development Bank airline hub assessment Bank of Cape Boa Vista Broad money budget Cape Verde escudos Cape Verdean authorities central bank central government claims commercial banks cumulative downward upward current account deﬁcit deﬁned difﬁculties disbursement domestic assets domestic balance domestic revenue Electra electricity and water end-December 2004 euro European Union exchange rate exchange rate peg excluding extemal external debt service Finance ﬁnancial ﬁnancing ﬁrst ﬁscal ﬁve weeks ﬂows foreign assets govemment government of Cape government’s governo central implementing improve including grants increase indicative targets inﬂation International Monetary Fund liabilities macroeconomic macroeconomic stability MEFP Millennium Development Goals ofﬁcial offshore Trust Overall balance percent of GDP Poverty Reduction Strategy Prel private sector Proj projected PRSP public enterprises public investment reﬂecting SDR 1.23 million September 2004 strengthen structural benchmarks structural performance criteria structural reform TACV technical assistance tourism U.S. dollars Value-added tax water tariffs World Bank