Democratic Republic of São Tomé and Princípe: 2018 Article IV Consultation, Fifth Review Under the Extended Credit Facility Arrangement, Request for Waivers for Nonobservance of Performance Criteria, and Financing Assurances Review

International Monetary Fund

No 2018/251, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses São Tomé and Príncipe’s 2018 Article IV Consultation, Fifth Review Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Financing Assurances Review. São Tomé and Príncipe’s GDP growth in 2017 is estimated at about 4 percent, similar to the previous two years. Inflation spiked to 7.7 percent at end 2017, caused by unfavorable weather conditions and an increase in import taxes on selective goods. Fiscal consolidation continued albeit at a slower pace than expected. The macroeconomic outlook is positive. Growth is expected to remain at 4 percent in 2018 and to accelerate to 5 percent in the medium term as new externally-financed projects get under way.

Keywords: ISCR; CR; debt; real GDP; measure; authority; expenditure control measure; Sao Tomean authorities; disbursement of SDR; targeted development outcome; Executive Board's decision; São Tomé and Príncipe's economy; capital account management strategy; Arrears; Imports; Sub-Saharan Africa; Global (search for similar items in EconPapers)
Pages: 118
Date: 2018-08-02
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