May 26th 2010
At the end of the IMF’s eighth undertaking to country, intended to evaluate financial management, the vice-director of the IMF’s Africa Division, Valerie Cerra, held a press conference in which she praised the economic and financial policies implemented by the Cape Verdean government.
Valerie Cerra said “With the policies it has used, Cape Verde managed to have a reserve that allowed it to react swiftly to the crisis and helped combat its negative effects. It faced the world economic crisis in a strong manner, consolidating the prudent economic measures that were called for and managing to obtain positive results.”
With this upbeat evaluation by the IMF, Valerie Cerra passed on the news that Cape Verde “will continue to have the support of international financial organizations, as it has fulfilled all of the accords it has signed.”
Minister for Finance, Cristina Duarte also mentioned that the results from the first quarter of 2010 were also analyzed and revealed “positive signs” in the archipelago economy, including the “increase in private consumption, the increase in investments and the slight increase in exports and re-exports.”
Duarte also stated it was the “eighth consecutive positive evaluation since Cape Verde signed the PSI with the IMF in 2006.”
Delighted with the glowing report from the IMF, Duarte stated that the government would make a “major effort” to continue this “very prudent management, because there is still a high level of uncertainty in the international context, namely in the euro zone, with recent events.”
Duarte continued by saying that in an international crisis some windows of opportunity can open for the development of the country, stressing “prudent management” as the way forward.