Cape Verde:Staff Report for the 2005 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criterion
Staff Report for the 2005 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criterion
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Volume/Issue:
Volume 2005
Issue 320
Publication date: September 2005
ISBN: 9781451956153
$20.00
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Topics covered in this book
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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , regime , PRGF arrangement , Cape Verdean economy well , poverty reduction strategy paper , discussion of Cape Verde , government disagreement , International reserves , Arrears , Europe , Sub-Saharan Africa
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Summary
The staff report for the 2005 Article IV Consultation for Cape Verde focuses on economic developments and fiscal policy. The fiscal deficit was lower than expected, and reserve accumulation exceeded the programmed level. Cape Verde appears well positioned to attract increasing external support, and there is also scope to mobilize greater domestic resources. In this regard, improvements in tax administration and rationalization of exemptions would enhance improvements to the revenue base that have come about with the new VAT.
