São Tomé and Príncipe: Staff Report for the 1999 Article IV Consultation and Request for an Arrangement Under the Poverty Reduction and Growth Facility
May 15, 2000
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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.
Subject: Banking, Civil service, Civil service reform, Credit, External debt, Labor, Money, Poverty, Poverty reduction strategy
Keywords: Africa, authorities' reform program, Civil service, Civil service reform, civil service reform program, CR, Credit, exchange regime, government, government's strategy, ISCR, net, poverty assessment, Poverty reduction strategy, program monitoring, reform program, São Tomé and Príncipe authorities
Pages:
76
Volume:
2000
DOI:
Issue:
066
Series:
Country Report No. 2000/066
Stock No:
1STPEA0012000
ISBN:
9781451834994
ISSN:
1934-7685
Notes
Included with the Staff Report is the text of Public Information Notice No. 00/35.
