Cape Verde:2001 Article IV Consultation—Staff Report and Public Information Notice on the Executive Board Discussion
Volume/Issue:
Volume 2001
Issue 174
Publication date: October 2001
ISBN: 9781451809268
$20.00
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Topics covered in this book
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Banks and Banking , Public Finance , ISCR , CR , program , economic reform program , limit central bank financing , cape Verdean authorities , banking system , trust fund , exchange rate , financing of the budget , IMF's assessment , IMF to the public , statutory independence , broad money , Extra-budgetary funds , International reserves , Commercial banks , West Africa
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Summary
In the conclusion of the previous Article IV Consultation, Executive Directors welcomed the elimination of quantitative import restrictions and the liberalization of foreign exchange regulations, and Directors emphasized the need to consolidate the progress made in containing the fiscal imbalances by continuing with prudent expenditure policies and further strengthening the tax system and budgetary procedures. Fiscal slippages occurred in the second half of 1999 and led to pressures on the balance of payments. Structural reforms created an environment conducive to private sector activity.
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