With the intention of strengthening Cape Verde's economic recovery, the International Monetary Fund (IMF) has provided approximately $15.19 million in financing to the country's government. The information was published on Tuesday, January 17, 2023 by the IMF on its website.

For months, Cape Verde's economy has been recording an increasing performance. This growth is subject to several risks that could slow it down. To this end, the government and the IMF are carrying out a program to improve the country's economic resilience. Indeed, this funding brings the support of the island state institution to approximately $30.18 million. It intervenes with the aim of carrying out a 36-month economic program, launched in June 2022.

According to the IMF, the Cape Verde economy is currently experiencing a strong and broad-based recovery and is in its fifth consecutive quarter of positive growth. Thus, this upward trend in growth is mainly driven by the tourism sector, which is recovering more quickly than expected. Following its performances, Cape Verde achieved real GDP growth estimated at 10.5% in 2022 and the Fund forecasts a moderation to 4.4% in 2023.