Africa Monitor

Africa Monitor Intelligence

Cape Verde: Recovery Without Economic Diversification

The government refers the causes of the current situation to the harmful effects of the pandemic on economic activity, including the near paralysis of its most important sector, tourism (25% of revenues), as well as, now, to inflation (considered imported, due to massive purchases of goods and services abroad).

The uneasiness provoked in the population by the state of the economy was illustrated by the massive adherence to labor recruitment actions carried out in the country by Portuguese companies, particularly in the transport and tourism sectors. Applications far exceeded supply; it was also noted that the candidates were mostly employed. READ MORE