Imports, exports and re-exports saw negative evolution in the first quarter of 2013, according to provisional foreign trade data from the National Statistics Institute (INE). During the same period, the deficit in the balance of trade dropped 13.1% and the coverage rate improved 0.4 percentage points.
Sal-based corporation Batuque Hotelaria e Turismo signed a loan agreement on Tuesday worth 19 million Euros with five commercial banks operating on the Cape Verdean market – Banco Comercial do Atlântico, Caixa Económica de Cabo Verde, Banco Espírito Santo, Banco Interatlântico and Ecobank.
Beginning today, May 1, all tourists visiting Cape Verde will pay a tax of 220 escudos for every night spent in any hotel establishment. The funds collected through the fee will be invested in the promotion of Cape Verde as a tourist destination, in tourist infrastructures and in the improvement of services.
The International Monetary Fund has corrected the error it made in calculating Cape Verde’s debt ratio for 2012. Cape Verde’s total debt stands at 81% of gross domestic product, and not 96%, as the institution had announced in mid-April. The correction represents a victory for Cape Verdean
The official release of Maria Chaves wines, a project spearheaded by the Solidarity and Development Association (known by the Portuguese-language acronym ASDE), will take place on April 30. The product will only go on sale in the Cape Verdean market, however, in June, according to Father Octávio Fassano,
Cape Verdean commercial bank Banco Comercial do Atlântico (BCA) issued a warning to clients on Friday, April 19, not to provide their bank data via the Internet. The message does not specify if any clients had seen their account data violated, but, according to the bank’s web site, fraudulent e-mails
Cape Verde’s first casino, to be called Casino Royal, is expected to open its doors in approximately two years in the tourist-oriented city of Santa Maria, on the Island of Sal. The government and the company that will operate the casino have signed a concession contract authorizing the latter
Portuguese company Gesto Energia will soon provide consulting services for and supply equipment to Cape Verdean state electricity utility Electra. The accord between the two companies will have a 15-month duration, and calls for the payment of 890,000 Euros for the consultancy and some 2 million Euros
Minister of Finances and Planning Cristina Duarte will head to Washington, D.C. next week to participate in the general assembly of the International Monetary Fund (IMF) and the World Bank, which takes place between April 19 and 21. The Cape Verdean government plans to play one last hand alongside the