Cape verde:Third Review Under the Three-year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria

Third Review Under the Three-year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver
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Volume/Issue: Volume 2003 Issue 402
Publication date: December 2003
ISBN: 9781451809367
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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 , PRGF loan , government , PRGF arrangement , development partner , cape Verdean authorities , government accountability , Poverty reduction strategy , International reserves , Monetary base , Africa

Summary

The performance criteria have not been met, but Executive Directors commend the government for taking corrective actions and for their commitment to maintain the pace of structural reforms. The government is urged to prepare a quality poverty reduction strategy paper as quickly as possible. Progress has been made in preparing to implement the value-added tax and the new customs tariffs. The government’s strong track record of pursuing prudent fiscal and monetary policies while redirecting public expenditures toward key social services is commended.