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HomePaper MoneyCape Verde Issues New $500 and $5,000 Bank Notes

Cape Verde Issues New $500 and $5,000 Bank Notes


By Bank of Cape Verde….
At a time when the country celebrates 40 years of national independence, the Bank of Cape Verde is preparing to celebrate the 40th anniversary of its establishment under the motto “BCV: 40 Years Committed to Development”.

Among the various celebrations of the date, the bank put new banknotes of CVE$500 and $5,000 (500 and 5,000 Cape Verdean escudos) into circulation on September 10. The notes honor the poet Praiense Jorge Barbosa and the First President of the Republic of Cape Verde Aristides Pereira, respectively. The book History of Currency in Cape Verde, designed by ISEG (Portugal), Cape Verde professor Dr. John Stephen. The event was chaired by the Minister of Higher Education, Science and Innovation, the historian António Leão de Aguiar Correia e Silva.

The notes form part of the new 2014/2015 series through which the BCV pays tribute to great figures of Cape Verde’s history linked to music, poetry, literature and politics, highlighting the cultural elements and the country’s development in recent years.

The denomination of 5,000 escudos honors one of the most renowned Cape Verdean politicians, Aristides Pereira (1923-2011), a distinguished figure in the liberation struggle of the Cape Verde Islands and the first President of the Republic of Cape Verde. The note features a tribute to his native island of Boa Vista through a perspective of an island landscape.

The denomination of 500 escudos honors one of the most prestigious figures of modern Cape Verdean poetry, Jorge Barbosa (1902-1971), and his native island of Santiago. Jorge Barbosa was a founder of the Clarity literary movement that marks an important phase of the contemporary aesthetics and language of Cape Verde based on the cultural emancipation of and social and political life of Cape Verdean society. The works of Jorge Barbosa translate the archipelago’s problems such as drought, famine, emigration, isolation and insularity–and the social drama of the Cape Verdean man–into poetry.

The book History of Currency in Cape Verde: From Early settlement to the Present, discusses the different periods of the monetary history of Cape Verde.

On September 22 there will be an international conference entitled “New Approaches to Regulation and Supervision in Risk Mitigation”, which will feature the participation of financial institutions and national dignitaries and authorities of the Central Banks of Portuguese-speaking countries, as well as the Central Banks of West African States (BECEAO) and Central Africa (BEAC). The speaker will be the Governor of the Bank of Portugal, Dr. Carlos Costa. The proceedings will take place in the Banquet Hall of the National Assembly beginning at 8:30 a.m.

Underlying the choice of theme for this conference is the fact that the Bank of Cape Verde attach particular importance to joint reflection on issues related to the regulation and supervision of financial institutions and the safeguarding of financial stability. The international financial crisis has demonstrated the existence of multiple vulnerabilities and regulatory failures, affecting the very foundations of the global financial system.

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