Cape Verde in a Global Economy

Abstract

As the twenty-first century opened, Cape Verde was among the poorer nations of the Global South. International economic institutions have recently changed Cape Verde’s status from the very poorest category “least developed country” to the status of “lower medium developed country.” With a gross national income of $596 million, which amounts to $1,310 per person per year, however, it is still considered among the poorer nations in the world (Europa World Year Book, 2003).

Rich people live in a big and nice house, have nice cars, and their children are well treated wherever they go. Meanwhile we have poor people who hardly have food.

—(Natalina)