This Selected Issues paper focuses on the prospects of growth in Sao Tome and Principe (STP). This case study seeks explanations for STP's relative under-performance and draws lessons for the future. It compares past economic developments in the islands and recommends policies that could most...

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

The authorities have requested a three-month extension of the Extended Credit Facility (ECF) arrangement set to expire on January 20, 2025. The three-year arrangement was approved by the Executive Board on January 21, 2022, with access of SDR 324.0 million (200 percent of quota). The extension...

The authorities have requested a new ECF-supported program, to deepen reforms undertaken under the previous program (completed in July 2024). They have also requested a program under the Resilience and Sustainability Facility (RSF)

Timor-Leste has made impressive progress since independence but remains a fragile post-conflict nation with an under-diversified private sector. The economy remains highly dependent on the public sector, which has been financed primarily by proceeds from the Petroleum Fund, in which the state...

EXECUTIVE SUMMARYContext. The coalition government that came into office on December 12, 2012,remains fully committed to the pursuit of sound policies that are helping to consolidatemacroeconomic stability, despite a challenging external environment and moreuncertain oil prospects.Program...

Executive SummaryThe first NPRS was drafted in 2002 and the authorities promised to reduce the percentage of theSaotomean population living in poverty (53.8 percent) by half in 2010 and by two-thirds in 2015,and to decrease the percentage of the population living in extreme poverty from 15.1...

Cover -- CONTENTS -- GLOSSARY -- EXECUTIVE SUMMARY -- INTRODUCTION -- FINANCIAL SECTOR STRUCTURE AND PERFORMANCE -- A. The Banking Sector and Financial Stability -- B. The Nonbanking Sector and Financial Stability -- RISKS AND RESILIENCE OF THE BANKING SECTOR -- A. Financial Sector...

KEY ISSUESEconomic context. Growth has been strong, inflation low, and fiscal buffers and international reserves adequate. However, poverty and unemployment remain high, despite large government spending financed from oil revenue. The business climate is among the most challenging and the...