## Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program

_IMF Staff Country Reports, December 27, 2002_

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## Bibliographic details
- Published: December 27, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451835052.002

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### Executive summary
- 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.

### Key findings
- Fiscal and structural slippages caused the PRGF-supported program to go off track at end-2000.
- Oil-sector governance concerns emerged in 2001 and compounded implementation problems.
- 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 and keywords (as stated)
- 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

### Document identifiers and publication metadata (as listed on the page)
- 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

*International Monetary Fund. "Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program", IMF Staff Country Reports 2002, 270 (2002).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/sao-tome-and-principe-review-of-performance-under-a-staff-monitored-program-16245_