Democratic Republic of São Tomé and Príncipe: Debt Relief at the Completion Point Under the Heavily Indebted Poor Countries Initiative and Under the Multilateral Debt Relief Initiative

May 15, 2007

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Democratic Republic of São Tomé and Príncipe: Debt Relief at the Completion Point Under the Heavily Indebted Poor Countries Initiative and Under the Multilateral Debt Relief Initiative, (USA: International Monetary Fund, 2007) accessed September 20, 2024

Summary

This paper examines the consideration of the Democratic Republic of São Tomé and Príncipe’s debt relief at the completion point under the enhanced Initiative for Heavily Indebted Poor Countries and Debt Relief under the Multilateral Debt Relief Initiative. Lower-than-projected export receipts largely owing to drought conditions and lower-than-expected tourism receipts, changes in cross-currency exchange rates, and variations in discount rates have been all unambiguously exogenous and outside the control of the authorities. There is need for continued fiscal prudence, policies to support broad-based growth and export diversification, continued donor support, and prudent debt management.

Subject: Asset and liability management, Commodities, Debt relief, Debt service, External debt, Oil, Oil production, Production, Public and publicly-guaranteed external debt

Keywords: Africa, CR, Current account, Debt relief, Debt service, Government contract, Hipc assistance, IMF staff estimate, ISCR, Long-term debt, MDRI debt relief, NPV of debt-to-exports ratio, Oil, Oil production, Organic law, Public and publicly-guaranteed external debt, Public expenditure, Public finance, São Tomé and Príncipe authorities, Sãotoméan authorities, Staff estimate, U.S. dollar

Publication Details

Pages:

77
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/173
Stock No:

1STPEA2007002
ISBN:

9781451835137
ISSN:

1934-7685

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