Cape Verde
Cape Verde "surpasses" financial crisis

afrol News, 31 July - Cape Verde's Prime Minister Jose Maria Neves yesterday announced that the financial crisis that had been a menace to Cape Verde during the past two years finally had been surpassed. PM Neves was speaking to the Cape Verdean Parliament, making his State of the Nation address. 

During the speech directed to the nation, the Prime Minister claimed that "the country has been able to defeat the financial crisis inherited by the previous government." In reference to the governance of the previous government, Neves mentioned, citing the conclusions of the International Monetary Fund (IMF), that its bad governance had increased the internal debt and considerably diminished state reserves. 

According to Jose Maria Neves, the surpassed crisis had only been able to overcome thanks to the effort of the population and the efforts of the executive. This was achieved through carrying out "a rigorous policy, containment, high morals and good governance of public assets," the PM explained yesterday in his speech. 

The government had achieved very positive results following its policies, the Prime Minister maintained. both when it came to "financial discipline and reduction of expenses, as well as in the scope of attaching morals to the expenses of the state." 

With respect to the budget results of his government, Neves specially mentions the fact that it had been able to reduce to the deficit with about 10.3 million escudos in the period of March to December last year, compared to the same period of the year 2000. 'Cape Verde's economy is back on track,' was the bottom line conclusion of Neves' State of the Nation address.

The opposition is of a different opinion, however, claiming that the government is taking unconstitutional liberties when defining the national budgets.

Sources: Based on Cape Verdean govt, press reports and afrol archives

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