🏳️ Cabo Verde

Public Sector Debt · 2026

Total Debt

109.6%

of GDP

Global Rank

#21

of 192

S&P Rating

Credit rating

SOE Debt

+8.6%

3 categories

5yr Change

-29pp

improving

Where the Debt Sits

Central Government

Central Government: 101.0%Energy SOEs: 3.5%Infrastructure: 2.1%Public Corps: 3.0%

Full Debt Breakdown

Central Government101.0% of GDP

Central GovernmentIMF WEO — General Government Debt

101.0%

Energy SOEs3.5% of GDP

Electra (energy utility)IMF Cabo Verde Article IV 2023; World Bank DPF→Major recipient of government guarantees. Part of CVE15.6B SOE domestic borrowing. Unbundling underway for potential 2H2025 privatization.

3.5%

Infrastructure SOEs2.1% of GDP

ASA (airports) + CV Telecom + other SOEsIMF Cabo Verde 2023; World Bank SOE Reform DPF→Total publicly guaranteed debt 8.6% GDP (CVE21B). SOE default shock 23.4% GDP per IMF DSA. SOE spending 2019-23 averaged 2% GDP (>half of health spending). New SOE law April 2024.

2.1%

Public Corporations3.0% of GDP

TACV / Cabo Verde AirlinesIMF Cabo Verde Article IV 2023; AirlineGeeks 2024→Loss-making airline. Annual financing needs ~1% GDP. Govt injects ~1B escudos/year ($9.1M). Gov guaranteed loans 2023: 100M + 110M + 650M escudos. Net loss 6.1M EUR in Q3 2024. Nationalized July 2021.

3.0%

Total Corporate Debt47.6% of GDP

NF corporate debt (est.)WB WDI 2020

47.6%

Household Debt25.6% of GDP

Household debt (est.)WB WDI 2020

25.6%

All Layers Total182.8%