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
Santiago, Cape Verde Praia, located in the southeast coast, is the largest city on the island, and also the largest city and capital of the country. Other towns on the island include Cidade Velha, west of Praia, Cape Verde's first capital; Assomada, in the centre of the island; Tarrafal in the north; Pedra Badejo and Calheta de São Miguel along the east coast. In the 1830s, Santiago's population was estimated at 30,000. Santiago has always been the most populous island in Cape Verde. The island population has doubled since the independence of Cape Verde in 1975. The population of the island was 294,135