IMF Staff Concludes Visit to São Tomé and Príncipe

IMF News, September 29, 2025

Source details

Press Release No. 25/312
Mission dates: September 22-26, 2025
Publication date: September 29, 2025
IMF team leader: Mr. Slavi Slavov
Purpose: discuss recent economic developments and progress in the implementation of the Fund-supported program
Note: "End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion."

The Santomean economy "appears to have remained relatively resilient."
Inflation dynamics: "Both supply and demand factors are pushing inflation back to double digits."
External sector: "exports revenues have benefited from a recovery in tourism and elevated cocoa prices."
Structural challenges: mission "discussed recent macroeconomic developments, with a focus on the structural challenges faced by the country."
Specific issues discussed: "the impact of the ongoing electricity shortages, the demographic outlook, economic growth, inflation developments, fiscal and monetary policy, and public debt issues."

Focus: performance under the Extended Credit Facility (ECF) arrangement.
Program assessment: "Program performance will be formally assessed in the context of the second review of the ECF arrangement, which is expected to be undertaken in October 2025."
Role of the program: "continues to play a pivotal role in restoring macroeconomic stability, fostering structural reforms, and catalyzing support from other development partners."

Meetings with: Minister of State for Economy and Finance Gareth Haddad do Espírito Santo Guadalupe; Acting Governor of the Central Bank Lara Simone Beirão; other government officials; representatives of the private sector including banks; and development partners.
Staff acknowledgement: "We would like to thank the authorities for the open and collaborative discussions, and look forward to our continued close engagement."

IMF staff statement as published by the IMF Communications Department on September 29, 2025.