IMF Staff Country Reports

Democratic Republic of São Tomé and Príncipe: 2016 Article IV Consultation, First Review under the Extended Credit Facility, and Request for Waiver for Nonobservance of Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Exective Director for the Democratic Republic of São Tomé and Príncipe

June 17, 2016

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Democratic Republic of São Tomé and Príncipe: 2016 Article IV Consultation, First Review under the Extended Credit Facility, and Request for Waiver for Nonobservance of Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Exective Director for the Democratic Republic of São Tomé and Príncipe, (USA: International Monetary Fund, 2016) accessed September 20, 2024

Summary

This paper discusses recent economic developments and economic outlook and risks of São Tomé and Príncipe. Although São Tomé and Príncipe’s economic development is constrained by its insularity, fragility, limited resources, and low capacity as a small island state, this African country has made commendable progress toward greater macroeconomic stability. GDP growth has averaged more than 4 percent per year since 2012, faster than many small islands states, but not sufficiently strong and diversified to meaningfully improve economic prospects and reduce poverty significantly. The forthcoming presidential election, with the risk of extra budgetary spending and continued weakness in the banking sector, are the main sources of short-term risks to the economic outlook.

Subject: Bank deposits, Banking, Commercial banks, External debt, Financial institutions, National accounts, Public debt, Revenue administration

Keywords: Commercial banks, CR, Debt, Debt management strategy, ECF arrangement, Europe, Exchange rate, Executive Board's discussion, Factor service, GDP, Global, Government finance, HIPC Initiative, ISCR, Sub-Saharan Africa

Publication Details

  • Pages:

    106

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2016/174

  • Stock No:

    1STPEA2016001

  • ISBN:

    9781498307444

  • ISSN:

    1934-7685

Notes

Also Available in Portuguese

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