Cabo Verde

Cabo Verde is a small island nation in the Atlantic that has achieved remarkable development outcomes relative to its limited natural resources. The economy is driven by tourism (particularly from Europe), fisheries, remittances from a large diaspora, and services. The country graduated from Least Developed Country (LDC) status in 2007 and has one of Africa's lowest corruption levels (CPI rank 33). The International Business Centre targets financial services and tech companies. Challenges include water scarcity, limited arable land, small market size, and vulnerability to global tourism cycles. The escudo is pegged to the euro, reflecting close ties with Portugal and the EU.