Democratic Republic of São Tomé: Second Review under the Extended Credit Facility, Request for Waiver for Nonobservance of Performance Criterion, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé
IMF Staff Country Reports, March 3, 2021
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- Democratic Republic of São Tomé: Second Review under the Extended Credit Facility, Request for Waiver for Nonobservance of Performance Criterion, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé
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Bibliographic details
- Published: March 3, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513571089.002
COVID-19 impact and macroeconomic developments
- The COVID-19 pandemic is having a severe impact on São Tomé and Príncipe’s economy, exacerbating fiscal and external imbalances.
- Tourism activities and external remittances dropped sharply.
- Lockdown measures further deepened the recession.
- The economy began to reopen in the fall, but the outlook for 2021 remains challenging and subject to significant uncertainty.
Policy response and international support
- The authorities implemented swift actions to address the emergency.
- Unprecedented international financial support is helping the country weather the emergency.
Content in this bundle
- Executive Summary