Fitch Ratings revised the outlook for Cabo Verde's long-term default foreign currency issuer (LTFC) rating on June 2, 2023 from stable to positive and confirmed the IDR to 'B-'.

The revision of the outlook to positive reflects Cabo Verde's robust economic growth outlook, which will continue to drive improvements in external and public finance measures. Cabo Verde's real GDP growth accelerated significantly to 17.7% in 2022, compared with 6.8% in 2021, driven by robust domestic demand and the rebound of the important tourism sector with positive impacts on the real economy. Cabo Verde's lower growth will reflect tighter base effects and monetary conditions