Ludwig von Mises Institute

Cape Verde

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Country summary

Capital

Praia

Borders

(N/A)

Government type

republic

Population

429,474 (July 2010 est.)[1]

Population growth

0.561% (2010 est.)[1]

Life expectancy

71.61 years[1]

Unemployment

21% (2000 est.)[1]

Index of Economic Freedom

78[2]

Corruption Perceptions Index

46[3]

Doing Business ranking

146[4]


The uninhabited islands were discovered and colonized by the Portuguese in the 15th century; Cape Verde subsequently became a trading center for African slaves and later an important coaling and resupply stop for whaling and transatlantic shipping. Following independence in 1975, and a tentative interest in unification with Guinea-Bissau, a one-party system was established and maintained until multi-party elections were held in 1990. Cape Verde continues to exhibit one of Africa's most stable democratic governments. Repeated droughts during the second half of the 20th century caused significant hardship and prompted heavy emigration. As a result, Cape Verde's expatriate population is greater than its domestic one. Most Cape Verdeans have both African and Portuguese antecedents.[1]

Economical characteristics[edit]

  • Currency: Cape Verdean escudo (ISO code: CVE)
  • Central bank discount rate: 7.5% (31 December 2008)[1]
  • Commercial banks lending rate: 9.99% (31 December 2008)[1]
  • Stock of money (M1): $563.4 million (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $721.3 million (31 December 2008)[1]

Notable events:[edit]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[6] 583 531 550 616 797 925 999 1 144 1 358 1 592
Govt. debt (% of GDP)[7]
Govt. revenue (% of GDP)[8] 26.848 28.792 30.574 32.860
Govt. expenses (% of GDP)[9] 29.415 28.675 27.679 25.771
Debt to revenue (years)

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Cape Verde", from The World Factbook. Referenced 2010-10-01.
  2. ↑ Heritage Foundation. "Cape Verde", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  3. ↑ Transparency International. "Cape Verde", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-01.
  4. ↑ Doing Business. "Cape Verde", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 356. (The list does not claim to be complete.) Referenced 2011-07-19.
  6. ↑ World Bank. "Cape Verde: GDP", from World Bank Data. Referenced 2010-10-01.
  7. ↑ World Bank. "Cape Verde: government debt", from World Bank Data. Referenced 2010-10-01.
  8. ↑ World Bank. "Cape Verde: government revenue", from World Bank Data. Referenced 2010-10-01.
  9. ↑ World Bank. "Cape Verde: government expenses", from World Bank Data. Referenced 2010-10-01.

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