Democratic Republic of São Tomé and Príncipe: First Review Under the Extended Credit Facility Arrangement
July 15, 2013
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This paper discusses the Democratic Republic of São Tomé and Príncipe’s First Review under the Extended Credit Facility Arrangement. The economy remains vulnerable to external and domestic shocks. Growth decelerated to 4 percent in 2012, reflecting persistent global uncertainties, particularly in Europe, which contributed to a slowdown in foreign direct investment, and in the execution of the foreign-financed public investment program. Commercial banks profitability and capital-to-risk weighted assets ratio declined in 2012, reflecting more challenging lending conditions. The central bank continues to strengthen its banking supervision function through on-site inspections and enforcement of banking regulation.
Subject: Bank deposits, Central banks, Commercial banks, Financial institutions, Financial services, Imports, International reserves, International trade, National accounts
Keywords: Africa, Bank deposits, Commercial banks, CR, disbursement of an amount equivalent to SDR, Europe, exchange rate peg, financing shortfall, Global, government, IMF's Executive Board, Imports, International reserves, ISCR, rate of inflation, reference rate, São Tomé and Príncipe, SDR
Pages:
61
Volume:
2013
DOI:
Issue:
208
Series:
Country Report No. 2013/208
Stock No:
1STPEA2013001
ISBN:
9781475597257
ISSN:
1934-7685
