Cabo Verde’s external debt service fell to 12.6% of exports in 2024.

Lower is better. A lower share is better because more of the foreign earnings stay available for imports and for building reserves. In 2024 the figure was 12.6% of exports, down from 15.2% of exports a year earlier. That earlier reading was the highest since 2015. The lowest in the same span was 6.7% of exports in 2016. The latest figure therefore sits in the upper part of its range since 2015, though it has moved away from the peak.

Why it matters. Cabo Verde pays for much of what it consumes with foreign earnings, so a share of 12.6% of exports means roughly one dollar in eight of export income goes to external creditors. The fall from 2023 gives the state and firms that borrow abroad somewhat more room. The level remains well above the 2016 low, so repayment schedules still take a notable part of the foreign currency that tourism and other exports bring in.