MCC-Cape Verde Partnership

A highway leading to Cape Verde’s capital, Praia. Largely resource-deficient, Cape Verde’s economy is driven mainly by tourism, transport and remittances. Photo by: Gerald R. Ford School of Public Policy, University of Michigan / CC BY-ND

Owing to strong political institutions and reform-driven growth, Cape Verde is one of few African countries that has gained relative stability in recent years despite limited resources.

The island country is progressing adequately against its Millennium Development Goals and is poised to achieve most targets by 2015. Poverty levels have declined from 37 percent in 2000 to 27 percent in 2010. Largely resource-deficient, Cape Verde’s economy is driven mainly by tourism, transport and remittances. Owing to a high volume of migrants to the United States and Europe, overseas remittances are estimated to account for 9 percent of Cape Verde’sgross domestic product.

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