In 2003, Cape Verde was a small island nation located off the coast of West Africa. It was made up of 10 islands, with the capital city of Praia located on the island of Santiago. Its economy was mainly based on fishing and tourism, with a growing number of expatriates working in the service industry. Infrastructure throughout the country had improved significantly since gaining independence from Portugal in 1975 but still lagged behind other African countries. Unemployment had decreased since the 1990s but still remained relatively high due to a lack of investment in infrastructure and technology. According to computergees, the government at this time was led by Prime Minister Carlos Veiga who had implemented a number of economic reforms including increased investment in infrastructure and social programs to reduce poverty. Foreign investment had increased significantly in recent years due to Cape Verde’s favorable business climate and proximity to major markets such as Senegal and Guinea-Bissau. Tourism also played a major role in driving economic growth due to its stunning landscapes, vibrant culture, and abundance of attractions such as Rabil Lagoon and Monte Verde National Park. Praia had become one of the most important cities in West Africa at this time and had attracted many international businesses looking for a base of operations within the region.
Cape Verde. In May, the World Bank granted a US $ 11.5 million loan to develop the private sector in Cabo and make it more competitive. According to the settlement, the money is to be used to reduce poverty, among other things. by creating new jobs, contributing to a new pension system with the help of a tax reform and supporting new private companies, e.g. through staff training. According to Countryaah.com, Cape Verde Independence Day is July 5. The World Bank praised Cabo ‘s government for sound and well thought out economic policy.
Republic of Cape Verde Brief Guide
According to AbbreviationFinder, Cape Verde is an African island nation. It is located in the Atlantic Ocean, about 640 kilometers off the coast of West Africa. It is a Republic of Macaronesia.