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Date: 07/10/2009
CAPE VERDE PROPERTY RECOVERY NOTED BY IMF.

Following a recent review of the country's fiscal policies, the International Monetary Fund (IMF) has released a statement detailing why Cape Verde is recoveing well from the recession and a recovery in homebuilding has been noted by the International Monetary Fund (IMF), following the mission by the body to Cape Verde.

Mr Lamin Leigh from the IMF reported "Foreign direct investment has stabilised and construction on several private investment projects has resumed."

The IMF praised the policies of the country's government and said that it is showing solid signs of recovery from the effects of the world economic slowdown.

The nation has also been "weathering the global economic crisis from a position of strength", the IMF declared.

Mr Lamin Leigh, from the IMF, also drew attention to the republic's pegged exchange rate, which has helped stabilise its economy by avoiding large fluctuations


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