CABO VERDE · ECONOMY
Cabo Verde’s opposition has asked the government to explain why it calls the Atlantic island nation’s economy “dilapidated”, when the International Monetary Fund (IMF) gave it a positive assessment in February. Celso Ribeiro, vice-president of the parliamentary group of the Movement for Democracy (MpD), the party that led the previous government, raised the question on Tuesday 10 November 2026.
The argument goes to parliament at a plenary session that opens on Wednesday 11 November, four days before the presidential vote on Sunday 15 November. The IMF’s February assessment was positive on growth and banks, but it also warned that public debt remains a vulnerability.
Key Facts
- Who Celso Ribeiro, vice-president of the opposition MpD parliamentary group, challenged the government on Tuesday 10 November.
- Claim He says the economy minister and the prime minister call the economy “dilapidated” although the IMF assessed it positively in February 2026.
- IMF view The IMF projected 5.1% growth for 2026 and called the financial system well capitalised.
- Next Parliament debates the issue on Wednesday 11 November, on the PAICV’s initiative.
- Prediction markets Polymarket, a prediction market, gives sitting president José Maria Neves a 95.1% chance of winning the 15 November presidential vote (10 November, 3:01 p.m. ET).
What the Opposition Says
Ribeiro said the MpD wants the government to define what it means by “dilapidated”, because the IMF’s February 2026 report, in his words, praised the economy’s performance. He cited robust growth, a sound banking system and well-capitalised companies.
He added that the government used the same macroeconomic picture when it presented the 2026 amended State budget. He asked how long the current team will blame its predecessor and said it should answer for its own results.
The MpD also set out its own scorecard for its ten years in office, 2016 to 2026. It says unemployment fell from 12.4% to 6.2% and tourist arrivals rose from 569,000 to 1.2 million, figures we have not matched to national statistics.
What the IMF Said in February
The IMF Executive Board concluded its 2025 review of Cabo Verde in early February 2026 (IMF press release 26/036). It estimated growth at 5.2% for 2025, projected 5.1% for 2026, and described the financial system as “liquid, profitable, and well capitalized”.
The same release also called high public debt “a source of vulnerability”, with debt projected at 102.5% of GDP (gross domestic product) for 2025 and 97.0% for 2026. It flagged fiscal risks at state-owned companies, particularly in transport and energy.
What Prediction Markets Say
Polymarket, a prediction market where users bet real money, gives José Maria Neves, the sitting president backed by the governing African Party for the Independence of Cabo Verde (PAICV), a 95.1% chance of winning the presidential election on Sunday 15 November, with US$42,094 traded as of 3:01 p.m. ET on 10 November. Joana Rosa, a rival candidate, trades at 3.9%.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
What It Means for You
Cabo Verde has IMF-backed support programmes, a credit facility and a climate and sustainability facility, and those programmes are still running. The opposition reads the IMF figures as contradicting the word “dilapidated”, and the government’s reply has not been reported.
Background is in our reports on Cabo Verde’s request for more IMF time, the gap between the budget and the IMF forecast and how the election works. More coverage is on our Cabo Verde page.
What Is Not Known
We have not seen the government’s reply or the ministers’ exact words on the economy. The MpD’s figures for its decade in office are the party’s own.
Background: Brazil Economy Explained, US$2.65 Trillion in 2026.
Frequently Asked Questions
What is the MpD in Cabo Verde?
The Movement for Democracy (MpD) is an opposition party that led the previous government. Celso Ribeiro is vice-president of its group in parliament.
What did the IMF say about Cabo Verde in February 2026?
The IMF projected 5.1% growth for 2026 and called the financial system liquid, profitable and well capitalised. It also warned that high public debt is a vulnerability.
Who governs Cabo Verde now?
The PAICV, the African Party for the Independence of Cabo Verde, leads the government. It took over from the MpD this year.
When is Cabo Verde’s presidential election?
Voters hold the first round of the presidential election on Sunday 15 November 2026. Polymarket gives José Maria Neves a 95.1% chance of winning, which is a bet, not a poll.
Sources: IMF, Press Release No. 26/036, review of Cabo Verde’s economy and support programmes (6–7 February 2026); MpD parliamentary group briefing, 10 November 2026; Polymarket, Cape Verde Presidential Election Winner market (10 November 2026).
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error