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

International Monetary Fund

No 2021/051, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. The authorities’ swift actions and unprecedented international financial support are helping the country weather the emergency. The economy began to reopen in the fall, but the outlook for 2021 remains challenging and subject to significant uncertainty.

Keywords: ISCR; CR; staff appraisal; staff statement; end-December outturn; GDP estimate; Ecf arrangement; financing needs; COVID-19; Arrears; Global; Sub-Saharan Africa; Africa; Central Africa (search for similar items in EconPapers)
Pages: 118
Date: 2021-03-03
New Economics Papers: this item is included in nep-mac
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