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Poverty Reduction Strategy Papers (PRSP)

Poverty Reduction Strategy Papers (PRSP)

Background

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. For more information, please refer to the Povertynet website.

Profile of Cape Verde's Growth and Poverty Reduction Strategy Paper (GPRSP-II)

The Cape Verde Second Growth and Poverty Reduction Strategy Paper (GPRSP-II) was completed in May 2008. The strategy covers the period 2008 to 2011 and maintains the thrust of the GPRSP-I which was presented to the Boards of the International Development Association (IDA) and the International Monetary Fund (IMF) in January 2005. The GPRSP-II was prepared drawing on lessons learnt from the implementation of the first GPRSP and is based broadly on the same five pillars:

  • Good governance, effectiveness and equity;
  • Human capital;
  • Competitiveness for private-sector-led growth;
  • Infrastructure and land use management; and
  • Social cohesion.

For a copy of the Cape Verde PRSP and related documents, please refer to the Povertynet website.




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