The International Monetary Fund (IMF) expects Cape Verde’s growth rate to increase in 2015.

“For 2015, a more marked acceleration of growth is anticipated, reflecting the continued recovery in Europe, a rebound in tourism, rising foreign direct investment and lower oil prices,” said Ulrich Jacoby, head of the IMF mission to Cape Verde, quoted in a press release.

Cape Verde’s GDP grew by 2.1 percent in 2014, according to a forecast from the World Bank.

He added: “There are also indications that bank lending to the private sector will resume as the economy is making progress in overcoming the debt overhang.”

Mr Jacoby pointed out that Cape Verde’s long-term growth “depends on bolstering productivity”. The IMF encouraged the country’s authorities to continue with reforms in that regard, in particular focusing on the business environment, labour market flexibility, access to financing, and education and training.