Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The oil price shock that started in mid-2014 has substantially reduced fiscal revenue and exports, with growth coming to a halt and inflation accelerating sharply. This has brought to the forefront the need to address more forcefully vulnerabilities and dependence on oil, and to diversify the economy. The authorities have taken steps to mitigate the impact of the external shock: an 18 percent of GDP improvement in the non-oil primary fiscal balance over 2015-16, mainly through spending cuts including the removal of fuel subsidies, has been implemented; and the kwanza has been devalued against the U.S. dollar by over 40 percent since September 2014, with international reserves being used to smooth the depreciation. However, the exchange rate has been re-pegged since April 2016 leading to an appreciation of the kwanza in real terms, and further policy actions are needed to continue adjusting the economy to the ‘new normal’ in the oil market and to return growth to a level consistent with poverty reduction.

Banks and Banking --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Public Finance --- Energy: Demand and Supply --- Prices --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Fiscal Policy --- International economics --- Public finance & taxation --- Currency --- Foreign exchange --- Banking --- Oil prices --- Public debt --- External debt --- Exchange rates --- Fiscal stance --- Debts, External --- Debts, Public --- Fiscal policy --- Angola

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

While improving, the economic outlook remains highly challenging, given the slow and uncertain recovery from the COVID-related shocks. Heavily dependent on oil, the Angolan economy has suffered from weakness in that sector, with falling production (related to the pandemic) and only a partial rebound in international prices recently. These shocks have led to a fifth straight year of recession and hardship. The public debt-to-GDP ratio has risen to very elevated levels, driven by recent real exchange rate depreciation. Nevertheless, strong fiscal performance and active debt management are setting the stage for a gradual economic recovery and reduction in debt vulnerabilities.

Exports and Imports --- Foreign Exchange --- Macroeconomics --- Public Finance --- Diseases: Contagious --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- Energy: Demand and Supply --- Prices --- Health Behavior --- Public finance & taxation --- International economics --- Currency --- Foreign exchange --- Infectious & contagious diseases --- Public debt --- External debt --- Debts, Public --- Debts, External --- Debt service --- Angola

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Business & Economics --- Economic History --- Banks and Banking --- Exports and Imports --- Financial Risk Management --- Macroeconomics --- Public Finance --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Aggregative Models: General --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- International economics --- Public finance & taxation --- Banking --- Finance --- External debt --- Public debt --- National accounts --- Bank deposits --- Debt relief --- Debts, External --- Banks and banking --- Debts, Public --- National income --- Revenue --- São Tomé and Príncipe, Democratic Republic of

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Cabo Verde’s economy is facing significant economic challenges associated with the lingering effects of the pandemic, as well as rising food and fuel prices triggered by the war in Ukraine. Climate change is also creating new difficulties after a fourth consecutive drought year. The economy rebounded strongly in 2021 following the COVID-19 induced recession in 2020, due in part to the authorities’ effective policy response, including one of the most successful vaccination programs in sub-Saharan Africa. However, the spillover effects of the Ukraine war are likely to weaken the economic recovery, worsen the fiscal and external positions, lead to higher inflation, and result in a substantial decline in international reserves. As a result, strong policy measures are needed to shore up international reserves, preserve debt sustainability, increase resilience to shocks, including climate change adaptation and mitigation, and make growth more inclusive.

Money and Monetary Policy --- International Economics --- Public Finance --- Exports and Imports --- Macroeconomics --- Diseases: Contagious --- Banks and Banking --- Monetary Policy --- International Agreements and Observance --- International Organizations --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Fiscal Policy --- Health Behavior --- Taxation, Subsidies, and Revenue: General --- Monetary economics --- International institutions --- Public finance & taxation --- International economics --- Infectious & contagious diseases --- Banking --- Monetary policy --- International organization --- Public debt --- External debt --- International agencies --- Debts, Public --- Debts, External --- Debt service --- Fiscal policy --- Communicable diseases --- Cabo Verde

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The fall in commodity prices and adverse weather conditions have adversely affected economic activity. The latter further declined following the disclosure of hidden loans in the spring of 2016 and the ensuing freeze in donor support. While tight monetary policy has helped stabilize the exchange rate and lower inflation since the fall of 2016, an overly loose fiscal policy is crowding out the private sector and resulting in an accumulation of domestic arrears. Public debt is in distress with several external borrowing payments missed. While the actual and projected fiscal deficits remain excessively high, the government has implemented measures to ease spending pressures, such as the elimination of fuel and wheat subsidies and the reduction of civil servants’ allowances and benefits.

Banks and Banking --- Exports and Imports --- Inflation --- Macroeconomics --- Public Finance --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Taxation, Subsidies, and Revenue: General --- Price Level --- Deflation --- International economics --- Public finance & taxation --- Banking --- Labour --- income economics --- Public debt --- External debt --- Debt service --- Public and publicly-guaranteed external debt --- Debts, External --- Debts, Public --- Banks and banking --- Revenue --- Mozambique, Republic of