IMF Staff Country Reports

São Tomé and Príncipe: Staff Report for the 1999 Article IV Consultation and Request for an Arrangement Under the Poverty Reduction and Growth Facility

Publication Date:

May 15, 2000

Electronic Access:

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Summary:

In the fiscal area, the primary budget balance of São Tomé and Príncipe has turned around from a deficit of 2.2 percent of GDP in 1997 to a surplus of 0.7 percent of GDP in 1998 (Dobra 1.9 billion). The primary surplus is estimated to have increased further to 1.3 percent of GDP in 1999. Monetary policy has remained tight in 1999, as the central bank has maintained the reserve requirement ratio at 22 percent and commercial banks have kept their savings and lending rates substantially above the central bank reference interest rate.

Series:

Country Report No. 2000/066

Subject:

Banking Civil service Civil service reform Credit External debt Labor Money Poverty Poverty reduction strategy

Notes:

Included with the Staff Report is the text of Public Information Notice No. 00/35.