Cape Verde economic strength hailed

The economic strength of Cape Verde has been hailed in a report out this week from the International Monetary Fund (IMF).

In an announcement in the capital Praia, the IMF said the state of the country's economy is a robust one that is standing up well to the challenges of the world downturn.

The body, which had just concluded a mission to the country, said: "Cape Verde's economic and policy performance remains strong and so far the impact of global shocks remain manageable thanks to sizable buffers built in recent years through prudent macroeconomic management."

It went on to back measures taken by the Cape Verdean government to stimulate the economy.

Such an endorsement may encourage those thinking of investing in Cape Verdean property.

Cape Verde's property market is linked to tourism, which new figures have suggested saw an increase in 2008.

The total of visitors making overnight hotel bookings in the archipelago was six per cent up on 2007 at 333,345, according to figures from the National Statistic Institute, Macauhub Reports.

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