Democratic Republic of São Tomé and Princípe: 2018 Article IV Consultation, Fifth Review Under the Extended Credit Facility Arrangement, Request for Waivers for Nonobservance of Performance Criteria, and Financing Assurances Review
August 2, 2018
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This paper discusses São Tomé and Príncipe’s 2018 Article IV Consultation, Fifth Review Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Financing Assurances Review. São Tomé and Príncipe’s GDP growth in 2017 is estimated at about 4 percent, similar to the previous two years. Inflation spiked to 7.7 percent at end 2017, caused by unfavorable weather conditions and an increase in import taxes on selective goods. Fiscal consolidation continued albeit at a slower pace than expected. The macroeconomic outlook is positive. Growth is expected to remain at 4 percent in 2018 and to accelerate to 5 percent in the medium term as new externally-financed projects get under way.
Subject: Arrears, Banking, External debt, Imports, International reserves, International trade, National accounts, Revenue administration
Keywords: Arrears, authority, capital account management strategy, CR, debt, disbursement of SDR, Executive Board's decision, expenditure control measure, Global, Imports, ISCR, measure, real GDP, São Tomé and Príncipe's economy, Sao Tomean authorities, Sub-Saharan Africa, targeted development outcome
Pages:
118
Volume:
2018
DOI:
Issue:
251
Series:
Country Report No. 2018/251
Stock No:
1STPEA2018001
ISBN:
9781484372227
ISSN:
1934-7685
