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Publication(Washington, DC, 2022-04) World BankA World Bank mission undertook applied the Debt Management Performance Assessment (DeMPA) methodology to evaluate the government’s debt management (DM) capacity and institutions in Cabo Verde during March 28 to April 5, 2022. The assessment covers the legal, institutional, and regulatory framework governing DM. The primary counterpart was the Ministry of Finance (MoF) and within it, the Department of the National Treasury / Financial Operations Service which is the main DM office for the central government. The mission identified DM strengths and areas in need of reform, which are useful for measuring progress in DM capacity, supporting policy dialog with the authorities in the context of the second series of the Development Policy Financing operation (DPF). The policy dialogue helped to build on what has changed since the 2016 DeMPA and discussing persisting gaps in government debt management practices. Reducing debt vulnerabilities is an urgent priority for the government of Cabo Verde and would require a combination of debt reprofiling, higher economic growth and fiscal consolidation. With limited space to borrow, it would also require effective Debt Management.
Publication(World Bank, Washington, DC, 2016-10) World BankThis report assesses the debt management performance of the government of Cabo Verde by applying the 2015 World Bank debt management performance assessment (DeMPA) methodology. Overall, there have been positive developments in government debt management practices in Cabo Verde. Some of those developments are reflected in improved DeMPA scores, as in the case of the preparation of a medium-term debt management strategy (DMS), publication of debt management information, and documentation of procedures in the domestic market. In some other cases, improvements were not enough to change the scores, although relevant and acknowledged, such as the case of domestic borrowing. In a number of other dimensions, such as those related to debt recording and operational risk, challenges persist. Annex 1 brings a detailed update on the implementation of the debt management reform plan designed in 2013, showing good improvement in some areas, in particular the development of a DMS and debt management reporting, but less progress in operational risk management and data recording.