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
Administrative divisions of Cape Verde Administrative divisions of Cape Verde The territory of Cape Verde is divided into 22 concelhos (municipalities), and subdivided into 32 freguesias (equivalent to civil parish). In Portuguese language usage, there are two words to distinguish the territory and the administrative organ. Administratively, right below the government, there are the municípios (municipalities), who administrate the "concelhos". Therefore, the "concelhos" are the first-level administrative subdivision in Cape Verde. Each municipality has an "Assembleia Municipal" (municipal assembly, the legislative body) and a "Câmara Municipal" (municipal chamber, the executive body). Every four years elections are held for the Assembleia Municipal, the Câmara Municipal and