Cabo Verde

Cabo Verde has made significant progress over the last few decades in economic and social development. During 2012-15, low economic growth as a consequence of the crisis in Europe, a significant scaling-up of public investment, and the support of loss-making state-owned enterprises (SOEs) led to a rapid accumulation of public debt. The government has embarked on an ambitious reform program to promote the development of the private sector and rein in the high public debt, including by restructuring SOEs.