Cape-Verde - Economic Reform Support Program (ERAP)

The Economic Reform Support Program (ERAP) is part of the 1997-2000 national development plan. It aims to implement the reforms necessary to restore the major macroeconomic balances. In addition to the restoration and privatization of some state-owned enterprises, this programme should improve the legislative and regulatory framework for sustained and sustainable growth based on private sector development. It should contribute to improving the living conditions of disadvantaged populations through measures identified in favour of employment development and the financing of public expenditure in the social sectors. The programme consists of (04) components, namely: (i) promotion of the private sector; (ii) further liberalization of the economy; (iii) maintenance of a viable and stable macroeconomic framework; and (iv) further reform of the public sector.