Cape Verde instance of country
Government and politics
Cape Verde is a stable semi-presidential representative democratic republic. It is among the most democratic nations in Africa, ranking 26th in the world, according to the 2018 Democracy Index. The constitution – adopted in 1980 and revised in 1992, 1995 and 1999 – defines the basic principles of its government. The president is the head of state and is elected by popular vote for a five-year term.The prime minister is the head of government and proposes other ministers and secretaries of state. The prime minister is nominated by the National Assembly and appointed by the president. Members of the National Assembly are elected by popular vote for five-year terms. In 2016, three parties held seats in the National Assembly – MpD (36), PAICV (25), and the Cape Verdean Independent Democratic Union (UCID) (3).The two main political parties are PAICV and MpD.Movement for Democracy (MpD) ousted the ruling African Party for the Independence of Cape Verde (PAICV) for the first time in 15 years in the 2016 parliamentary election, at which time its leader, Ulisses Correia e Silva, became prime minister. Jorge Carlos Almeida Fonseca was elected president in August 2011 and re-elected in October 2016. He is also supported by the MpD.In November 2021, Cape Verde opened its first embassy in Nigeria.Economy
Cape Verde's notable economic growth and improvement in living conditions despite a lack of natural resources have garnered international recognition, with other countries and international organizations often providing development aid. Since 2007, the UN has classified it as a developing nation rather than a least developed country.
Cape Verde has few natural resources. Only five of the ten main islands (Santiago, Santo Antão, São Nicolau, Fogo, and Brava) normally support significant agricultural production, and over 90% of all food consumed in Cape Verde is imported. Mineral resources include salt, pozzolana (a volcanic rock used in cement production), and limestone. Its small number of wineries making Portuguese-style wines have traditionally focused on the domestic market, but have recently met with some international acclaim. Several wine tours of Cape Verde's various microclimates began to be offered in spring 2010.
The economy of Cape Verde is service-oriented, with commerce, transport, and public services accounting for more than 70% of GDP. Although nearly 35% of the population lives in rural areas, agriculture and fishing contribute only about 9% of GDP. Light manufacturing accounts for most of the remainder. Fish and shellfish are plentiful, and small quantities are exported. Cape Verde has cold storage and freezing facilities and fish processing plants in Mindelo, Praia, and on Sal. Expatriate Cape Verdeans contribute an amount estimated at 20% of GDP to the domestic economy through remittances.
Despite having few natural resources and being semi-desert, the country boasts the highest living standards in the region and has attracted thousands of immigrants of different nationalities.
Since 1991, the government has pursued market-oriented economic policies, including an open welcome to foreign investors and a far-reaching privatization programme. It established as top development priorities the promotion of a market economy and the private sector; the development of tourism, light manufacturing industries, and fisheries; and the development of transport, communications, and energy facilities. From 1994 to 2000 about $407 million in foreign investments were made or planned, of which 58% were in tourism, 17% in industry, 4% in infrastructure, and 21% in fisheries and services.In 2011, on four islands a wind farm was built that supplies about 30% of the electricity of the country.
As host to the ECOWAS Regional Centre for Renewable Energy and Energy Efficiency, inaugurated in 2010, Cape Verde plans to lead by example by becoming entirely reliant on renewable energy sources by 2025. This policy is consistent with the plethora of documents adopted in 2015 paving the way to more sustainable development, including Cape Verde's Transformational Agenda to 2030, its National Renewable Energy Plan and its Low Carbon and Climate-resilient Development Strategy. Two years later, these were followed by a Strategic Plan for Sustainable Development, 2017–2021.Between 2000 and 2009, real GDP increased on average by over seven percent a year, well above the average for Sub-Saharan countries and faster than most small island economies in the region. Strong economic performance was bolstered by one of the fastest growing tourism industries in the world, as well as by substantial capital inflows that allowed Cape Verde to build up national currency reserves to the current 3.5 months of imports. Unemployment has been falling rapidly, and the country is on track to achieve most of the UN Millennium Development Goals – including halving its 1990 poverty level.
In 2007, Cape Verde joined the World Trade Organization (WTO) and in 2008 the country graduated from Least Developed Country (LDC) to Middle Income Country (MIC) status.
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