Over the last decade and before the global economic crisis that started in 2008, Cape Verde was among the fastest growing economies in the world. The result is that Cape Verde became a lower middle-income country, having graduated from the United Nations list of Least Developed Countries in 2008. Between 1995 and 2007, for example, Cape Verde ranked among the top high growth economies in Africa; it ranked sixth in the top 17 growth performers in Sub-Saharan Africa. Despite the crisis however Cape Verde continues to experience modest economic growth. The characteristics of its growth make Cape Verde’s performance noteworthy. Its strong performance has been well rounded. Its strong growth has resulted in improved living standards for the population, putting the country on track to meet or surpass all the targets of the Millennium Development Goals (MGDs).
