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
African Party for the Independence of Guinea and Cape Verde the 1999–2000 elections. However, it returned to office after winning parliamentary elections in 2004 and presidential elections in 2005, since which it has remained the largest party in the National People's Assembly. The PAIGC also governed Cape Verde, from its independence in 1975 to 1980. After the military coup in Guinea-Bissau in 1980, the Cape Verdean branch of the PAIGC was converted into a separate party, the African Party for the Independence of Cape Verde. The party was established in Bissau on 19 September 1956 as the African Party of Independence ("Partido Africano da Independência"), and was based on the