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The economy of Cape Verde is a service-oriented economy that is focused on commerce, trade, transport and public services. [6] Cape Verde is a small archipelagic nation that lacks resources and has experienced severe droughts. Agriculture is made difficult by lack of rain and is restricted to only four islands for most of the year.
Cape Verde joined the World Bank in November 20, 1978, after declaring its independence from Portugal in 1975. [1] The first agreement with the IDA occurred on February 8, 1983, supporting the Praia Port Project for the amount of $7,200,000. Since then 45 other projects have been approved through the World Bank totaling in $445,200,000. [2]
The escudo became the currency of Cape Verde in 1914. It replaced the Cape Verdean real at a rate of 1000 réis = 1 escudo. Until 1930, Cape Verde used Portuguese coins, although banknotes were issued by the Banco Nacional Ultramarino specifically for Cape Verde beginning in 1865. Until independence in 1975, the Cape Verde escudo was equal to ...
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Cape Verde (/ ˈ v ɜːr d (i)/ ⓘ, VURD(-ee)) or Cabo Verde (/ ˌ k ɑː b oʊ ˈ v ɜːr d eɪ / ⓘ KAH-boh VUR-day, / ˌ k æ b oʊ-/ KAB-oh -, [ˈkabu ˈveɾdɨ]), officially the Republic of Cabo Verde, is an island country and archipelagic state of West Africa in the central Atlantic Ocean, consisting of ten volcanic islands with a combined land area of about 4,033 square kilometres ...
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Ongoing — COVID-19 pandemic in Cape Verde 13 to 31 January – The Cape Verde men's national handball team competed in the World Championship for the first time, but had to withdraw from the event, as not having the required minimum of players available after several of the players tested positive for COVID-19.
The islands of Cape Verde were discovered in 1444 by Prince Henry the Navigator (Son of King John I) and Antonio Noli, in the service of Henry's relative King Afonso V.The southeastern islands, including the largest island Santiago, were discovered in 1460 by António de Noli and Diogo Gomes.