Cape Verde economic performance was bolstered by one of the fastest growing tourism industries in the world, as well as by substantial capital inflows that allowed Cape Verde to build up national currency reserves to the current 3.5 months of imports. Unemployment has been falling rapidly, and the country is on track to achieve most of the UN Millennium Development Goals – including halving its 1990 poverty level. In 2007, Cape Verde joined the World Trade Organization (WTO) and in 2008 the country graduated from Least Developed Country (LDC) to Middle Income Country (MIC) status. Cape Verde has significant cooperation with Portugal
Cape Verde designation "Cabo Verde" would henceforth be used for official purposes, such as at the United Nations, even in English contexts. Cape Verde is a member of the African Union. The name of the country stems from the nearby Cap-Vert, on the Senegalese coast. In 1444, Portuguese explorers had named that landmark as "Cabo Verde," a few years before they discovered the islands ("Verde" is Portuguese for "green"). On 24 October 2013, the country's delegation announced at the United Nations that the official name should no longer be translated into other languages. Instead of "Cape Verde", the designation "Republic of Cabo