The International Monetary Fund (IMF) issued a statement last Monday according to which the institution granted $31.45 million in funding to Cape Verde, to enable it to strengthen its resilience to climate shocks.

The financing granted to the IMF in Cape Verde is part of the 18-month Resilience and Sustainability Facility (RSF) agreement. This agreement aims to support the island state's efforts to implement macro-critical climate reforms and to catalyze private finance for climate adaptation and transition. According to the IMF, the growth of the Cabo Verdean economy is expected to fall to 4.5% in 2023 after the 17.1% rebound recorded last year, “as export growth normalizes