News from Islands
Cape Verde's public debt accounted for 75.4% of GDP to 31 December 2010
Praia, Cape Verde, 12 May - Cape Verde's public debt is focused on loans which represent 87 percent of the total, said Tuesday in Praia Finance Minister of Cape Verde, told Portuguese news agency Lusa . Of the remaining 13% went to Duarte, 8% are debt "almost commercial" and 5% debt, "trade" with the debt to be situated, to December 31, 2010, in 75.4% of Gross Domestic Product .
Duarte noted that the debt be subsidized medium / long term, in some cases 30 years, so that Cape Verde will continue to keep the flag as transparency and good management of public accounts to prevent slippage. Therefore, it is "very attenuated" the "shock" that the archipelago will have to absorb in 2013, when finishing the transition period from Least Developed Country (LDC) to Middle Income Country (MIC).
At that time, ending subsidized loans and Cape Verde will have to "move forward" on their own, as recently said the prime minister of Cape Verde, José Maria Neves.
Data from the National Statistics Institute (INE) Cape Verde, released Tuesday, show that exports in Cape Verde grew 27.4% in the first quarter of 2011, while imports rose 21.4% over the same period in 2010.
In turn, the monthly report from the Bank of Cape Verde (BCV) on February this year indicates that economic activity Cape Verde continues to give mixed signals, with some indicators pointing to a slowdown in domestic demand.
Source: macauhub
