{
  "title": "Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program",
  "publication": "IMF Staff Country Reports, December 27, 2002",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/sao-tome-and-principe-review-of-performance-under-a-staff-monitored-program-16245",
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  "summary": "This paper reviews performance of Sao Tome and Principe under the Staff-Monitored Program (SMP). Sao Tome and Principe's Poverty Reduction and Growth Facility-supported program went off track at end-2000 because of fiscal and structural slippages, which were compounded in 2001 by the emergence of oi",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- Reviews performance of Sao Tome and Principe under the Staff-Monitored Program (SMP).\n- The Poverty Reduction and Growth Facility-supported program went off track at end-2000 because of fiscal and structural slippages.\n- Slippages were compounded in 2001 by the emergence of oil-sector governance concerns.\n- Authorities requested an SMP for the first half of 2002; spending overruns reoccurred and most SMP benchmarks were missed.\n- Program implementation during the first half of 2002 was disappointing; the key quantitative benchmarks for end-June 2002 were not observed."
    },
    {
      "heading": "Key findings",
      "content": "- Fiscal and structural slippages caused the PRGF-supported program to go off track at end-2000.\n- Oil-sector governance concerns emerged in 2001 and compounded implementation problems.\n- The SMP requested for the first half of 2002 did not restore program performance: spending overruns reoccurred.\n- Most SMP benchmarks were missed during the SMP period.\n- Quantitative benchmarks for end-June 2002 were not met."
    },
    {
      "heading": "Subjects and keywords (as stated)",
      "content": "- Subjects: Arrears, Commodities, Debt service, Expenditure, External debt, Oil\n- Keywords: Africa, Arrears, authorities' resolve, CR, credit to government, Debt service, government, government contract, government operation, government's contracting, HIPC Initiative, ISCR, macroeconomic objective, net, Oil, procurement contract, São Tomé and Príncipe authorities"
    },
    {
      "heading": "Document identifiers and publication metadata (as listed on the page)",
      "content": "- Pages: 58\n- Volume: 2002\n- Issue: 270\n- Series: Country Report No. 2002/270\n- Stock No: 1STPEA0032002\n- DOI: https://doi.org/10.5089/9781451835052.002\n- ISBN: 9781451835052\n- ISSN: 1934-7685\n\nInternational Monetary Fund. \"Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program\", IMF Staff Country Reports 2002, 270 (2002).\n\n---\n\n Content in this bundle\n\n- Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program - ISCR/02/270\n  - Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program - ISCR/02/270 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program - ISCR/02/270 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 27, 2002",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451835052.002",
    "Reviews performance of Sao Tome and Principe under the Staff-Monitored Program (SMP).",
    "The Poverty Reduction and Growth Facility-supported program went off track at end-2000 because of fiscal and structural slippages.",
    "Slippages were compounded in 2001 by the emergence of oil-sector governance concerns.",
    "Authorities requested an SMP for the first half of 2002; spending overruns reoccurred and most SMP benchmarks were missed.",
    "Program implementation during the first half of 2002 was disappointing; the key quantitative benchmarks for end-June 2002 were not observed.",
    "Fiscal and structural slippages caused the PRGF-supported program to go off track at end-2000.",
    "The SMP requested for the first half of 2002 did not restore program performance: spending overruns reoccurred.",
    "Most SMP benchmarks were missed during the SMP period.",
    "Quantitative benchmarks for end-June 2002 were not met.",
    "Subjects: Arrears, Commodities, Debt service, Expenditure, External debt, Oil",
    "Keywords: Africa, Arrears, authorities' resolve, CR, credit to government, Debt service, government, government contract, government operation, government's contracting, HIPC Initiative, ISCR, macroeconomic objective, net, Oil, procurement contract, São Tomé and Príncipe authorities",
    "Pages: 58",
    "Volume: 2002",
    "Issue: 270",
    "Series: Country Report No. 2002/270",
    "Stock No: 1STPEA0032002",
    "DOI: https://doi.org/10.5089/9781451835052.002",
    "ISBN: 9781451835052",
    "ISSN: 1934-7685",
    "**Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program - ISCR/02/270**"
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