Poverty Reduction Strategy Papers (PRSP)

Poverty Reduction Strategy Papers (PRSP) describe a country's macroeconomic, structural, and social policies and programs to promote growth and reduce poverty, as well as associated external financing needs. PRSPs are prepared by governments through a participatory process that involves civil society and development partners, including the World Bank and the International Monetary Fund (IMF).

Poverty Reduction Strategy Papers provide the basis for World Bank and IMF assistance as well as debt relief under the HIPC (Heavily Indebted Poor Countries) Initiative. PRSPs should be country-driven, comprehensive, partnership-oriented, and participatory. A country only needs to write a PRSP every three years; however, changes can be made to the content of a PRSP using an Annual Progress Report.

Profile of Cape Verde's I-PRSP

The Cape Verde Government presented the country's interim Poverty Reduction Strategy Paper (I-PRSP) to the World Bank and International Monetary Fund (IMF) Boards of Directors in April 2002.  The government's approach to reducing poverty builds on the strategies that were outlined in the National Poverty Reduction Program, 1987 (PNLP). Five major options developed in this analysis were (a) promoting good governance, (b) promoting entrepreneurial capacity, (c) developing human capital, (d) promoting social development and cohesion, and (e) developing basic and economic infrastructure. The interim PRSP also identifies these strategic directions:

	Renewal of economic growth with equity
	Linkage between poverty reduction strategies and macroeconomic and sectoral policies
	Reduction of regional disparities, particularly between rural and urban areas
	Improvement in the productive capacities of the poor.

In each of these areas, the document outlines the specific activities the government intends to implement over the medium term to overcome the severe constraints.

Since the interim PRSP was presented in 2002, the Cape Verde Government has been preparing a full PRSP. It is expected that the government will present this document to the World Bank and International Monetary Fund (IMF) Boards of Directors in March 2004.

Downloads

Cape Verde Interim Poverty Reduction Strategy Paper, January 2002 (PDF, 307 KB)

Joint Staff Assessment of the PRSP Preparation Status Report, May 2003 (PDF, 14 KB)