Cape Verde Declares Economic Emergency

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The Cape Verdean government has declare a social and economic emergency in the archipelago.

Prime Minister Ulisses Silva said, “with the loss of purchasing power, nine out of every 100 Cape Verdeans are at risk of food insecurity, whereas in 2020, at the height of the pandemic, the figure was only 2%.”

Social-Economic Emergency

By declaring a social and economic emergency, the government intends to obtain more support from the international community so that it can continue to finance the protection measures for families and businesses already adopted, he explained.

“We have adopted several measures since last March to stabilise food and oil prices and to help the most vulnerable families, and the total cost of these measures is 9 billion escudos (€81.6 million) by the end of 2022,” he said.

Cape Verde is therefore now engaging in “a strong diplomatic offensive with our partners to mobilise more resources”, he said, encouraging his compatriots to save.

Cape Verde, whose GDP was 25% dependent on tourism before Covid-19, had been severely affected by the pandemic, effects of the war in Ukraine, and drought.

According to data from May inflation has reached 8%, and at the same time in 2021, inflation was at 1.9%.





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