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 and remains one of the most developed and democratic countries in Africa. Lacking natural resources, its developing economy is mostly service-oriented, with a growing focus on tourism and foreign investment. Its population of around 540,000 is mostly of mixed European, Moorish, Arab and African heritage, and predominantly Roman Catholic, reflecting the legacy of Portuguese rule. A sizeable diaspora community exists across the world, slightly outnumbering inhabitants on the islands. Historically, the name "Cape Verde" has been used in English for the archipelago and, since independence in 1975, for the country. In 2013, the Cape Verdean government determined that the Portuguese