Key Facts

GDP (ppp) per CAPITA

$3,800 (2008 est.)

Inflation Rate

6.8% (2008 est.)

Population

429,474 (July 2009 est.)

Country Risk Ratings

B

Ease of Doing Business

143/181

Global Competitiveness

-/134

Country Map

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Cape Verde : Introduction

The uninhabited islands were discovered and colonized by the Portuguese in the 15th century; Cape Verde subsequently became a trading center for African slaves and later an important coaling and resupply stop for whaling and transatlantic shipping. Following independence in 1975, and a tentative interest in unification with Guinea-Bissau, a one-party system was established and maintained until multi-party elections were held in 1990. Cape Verde continues to exhibit one of Africa's most stable democratic governments. Repeated droughts during the second half of the 20th century caused significant hardship and prompted heavy emigration. As a result, Cape Verde's expatriate population is greater than its domestic one. Most Cape Verdeans have both African and Portuguese antecedents.

Cape Verde: Bank of Cape Verde

This is the site of the Central Bank of Cape Verde, formed in 1975. It exercises all of the functions of a Central Bank, such as issuing currency and being the exchange authority, treasurer and commercial bank. (Portuguese only)

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (August 2009)