{
  "title": "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",
  "publication": "IMF Staff Country Reports, March 3, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/03/03/democratic-republic-of-so-tom-second-review-under-the-extended-credit-facility-request-for-50144",
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  "summary": "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, while lockdown measures further deepened the recession.",
  "sections": [
    {
      "heading": "COVID-19 impact and macroeconomic developments",
      "content": "- The COVID-19 pandemic is having a severe impact on São Tomé and Príncipe’s economy, exacerbating fiscal and external imbalances.\n- Tourism activities and external remittances dropped sharply.\n- Lockdown measures further deepened the recession.\n- The economy began to reopen in the fall, but the outlook for 2021 remains challenging and subject to significant uncertainty."
    },
    {
      "heading": "Policy response and international support",
      "content": "- The authorities implemented swift actions to address the emergency.\n- Unprecedented international financial support is helping the country weather the emergency.\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 3, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513571089.002",
    "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.",
    "The authorities implemented swift actions to address the emergency.",
    "Unprecedented international financial support is helping the country weather the emergency.",
    "**Executive Summary**"
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