A man sorts fishing nets in Santa Maria, Cape Verde. The World Bank's partnership strategy with Cape Verde focuses on enhancing the West African country's macrofiscal stability for sustained growth, as well as improving competitiveness and strengthening the private sector. Photo by: IDS.photos / CC BY-SA
Cape Verde has made considerable progress in economic development with gross domestic product growth rates averaging 7.1 percent from 2005 to 2008. However, the country lost its momentum following the 2009 recession, and GDP growth has been modest since.