## 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_

## Source details

**Canonical URL:** [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](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2021/03/03/democratic-republic-of-so-tom-second-review-under-the-extended-credit-facility-request-for-50144/index.md)
- [Structured JSON version](/en/publications/cr/issues/2021/03/03/democratic-republic-of-so-tom-second-review-under-the-extended-credit-facility-request-for-50144/index.json)
- [Bundle manifest](/en/publications/cr/issues/2021/03/03/democratic-republic-of-so-tom-second-review-under-the-extended-credit-facility-request-for-50144/bundle-manifest.json)

## Bibliographic details
- Published: March 3, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513571089.002

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### 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.

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/cr/2021/english/1stpea2021001.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/cr/2021/english/1stpea2021001.pdf){rel="external" type="application/pdf"}

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_Source: 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_