Economic activity continues to be robust in 2007, driven by foreign investment in tourism-related construction and services. The central bank (BCSTP) strengthened its efforts to control liquidity growth. Progress on structural reforms has been mixed. The authorities intend to accelerate public...

This paper presents the Democratic Republic of São Tomé and Príncipe’s first review under the Three Year Arrangement under the Extended Credit Facility Arrangement. After averaging 6 percent a year over several years, real GDP growth in 2009 is estimated at 4 percent, reflecting a decline...

This paper discusses key findings of the Fourth Review Under the Poverty Reduction and Growth Facility (PRGF) for the Democratic Republic of São Tomé and Príncipe. All quantitative performance criteria and structural benchmarks for end-December 2006 were met. Progress continues on structural...

In 2005, the overall macroeconomic performance was broadly satisfactory, notwithstanding an increase in inflation. All performance criteria were met. Structural reforms advanced, and delays in preparing feasibility studies for restructuring the airport and seaport authorities are being...

This paper examines the consideration of the Democratic Republic of São Tomé and Príncipe’s debt relief at the completion point under the enhanced Initiative for Heavily Indebted Poor Countries and Debt Relief under the Multilateral Debt Relief Initiative. Lower-than-projected export...

This Selected Issues paper for the Democratic Republic of São Tomé and Príncipe (STP) underlies the recent upward trend in inflation that was heavily influenced by external factors. The policy mix to achieve price stability requires effective control of money supply and fiscal restraint. As...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This paper assesses the 2001 Article IV Consultation and Staff-Monitored Program (SMP) for Sao Tome and Principe. Fiscal slippages, delays in structural reforms, and governance problems during the fourth quarter of 2000 and the first three quarters of 2001 led to the program going off track. The...

The paper reviews the background and the existing institutional framework for oil sector development in São Tomé and Príncipe and the challenges faced in implementing transparency rules in all oil-related transactions. It provides a quantitative analysis of the impact of oil sector...

This paper presents an update to the Poverty Reduction Strategy Paper (PRSP) for the Democratic Republic of São Tomé and Príncipe. It discusses that a tendency toward continual growth of the unemployment levels was verified in the urban region between 2000 and 2003 while during the same...