Sao Tomé and Príncipe: Recent Economic Developments and Selected Issues

International Monetary Fund

No 1997/081, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper highlights that the financial performance of Sao Tomé and Príncipe, after improving in 1995, deteriorated again in 1996, while production continued to stagnate. In 1995, the authorities adopted policies aimed at stabilizing the economy, which led to a significant improvement in the fiscal position. The strengthening of control over monetary expansion made possible a reduction of end-of-period inflation to 37 percent, from 75 percent in 1994. In 1996, however, fiscal slippages and the consequent monetary financing of the budget deficits resulted in a resurgence of inflation and currency depreciation.

Keywords: ISCR; CR; enterprise; government; marketing enterprise; government financing; land reform; terms of trade; balance of payments; government contribution; Commercial banks; Agricultural commodities; Credit; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 76
Date: 1997-09-29
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