According to Maitland MacFarlan of the International Monetary Fund (IMF) Cape Verde's economic and policy performance "remains sound"; a confidence reflected in the Bank of
Cape Verde's tourist industry is growing rapidly, increasing by 12.7% between 2000 and 2003, and 15.6% between 2004 and 2007, according to the Millennium Institute
Cape Verde's semester report, which showed Gross Domestic Product (GDP) growth in 2006 to be higher than expected, at around 6.5%. The IMF predicts growth in 2007 to stand at around 7% and stated that given the large investment projects in the pipeline, the economic outlook is promising. The IMF report concluded that Cape Verde's strong economic growth had been mainly supported by