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São Tomé and Príncipe
Sao Tome and Principe stands at the threshold of the oil era. The government’s objective of stabilizing the non-oil primary fiscal deficit over the medium term is appropriate. Executive Directors support the government’s approach to monetary policy, which is consistent with the flexible exchange regime and focuses on limiting inflation and enhancing credit access for entrepreneurs. Sao Tome and Principe's flexible exchange rate regime remains appropriate. Sao Tome and Principe's statistical framework suffers from serious weaknesses, and institutional capacity needs to be enhanced.
Democratic Republic of São Tomé and Príncipe
This Information Annex highlights that the World Bank and the IMF are providing complementary support to help São Tomé and Príncipe strengthen public financial management and make progress toward debt sustainability. The World Bank’s work program is guided by an Interim Strategy Note approved in 2011 that focuses on accelerating sustainable and broad-based economic growth and on strengthening governance, public institutions, and human capital. A new Country Assistance Strategy for 2013–16 will be completed in 2014, following the recent completion of a Joint Staff Assessment Note on the country’s second National Poverty Reduction Strategy. Regarding debt sustainability, the World Bank and the IMF teams prepared a Joint IMF–World Bank Debt Sustainability Analysis update in 2012.
Democratic Republic of São Tomé and Príncipe
The Democratic Republic of São Tomé and Príncipe shows prudence in maintaining its fiscal stance assisted by the IMF extended credit facility (ECF). The authorities aim to concentrate on maintaining macroeconomic stability even though debt distress owing to a narrow export base and other issues loom as threats. Focus is on strengthening of existing monetary and public finances policies, banking supervision, and anti-money laundering, which will help in reducing poverty. Revenue from oil production is also expected to help achieve the target by 2015.
Introduction to Sao Tome and Principe
São Tomé and Principe is a small island nation located off the coast of West Africa. The country is comprised of two main islands, São Tomé and Principe, along with several smaller islets. The nation has a population of approximately 200,000 people and the official language is Portuguese. São Tomé and Principe was colonized by the Portuguese in the late 15th century and gained independence in 1975. The country’s economy is predominantly based on agriculture, with cocoa being the primary export. São Tomé and Principe is known for its biodiversity and ecotourism, with about 30% of the total land area being designated as protected areas. The nation is also rich in cultural and historical landmarks, such as the historic city of São Tomé, which is home to many colonial-era buildings and sites. Despite being considered to be one of the poorest countries in the world, São Tomé and Principe is actively working towards economic development and has attracted significant foreign investment in recent years.
Democratic Republic of São Tomé and Princípe: Staff Report for the 2011 Article IV Consultation.
São Tomé & Príncipe remains at high risk of debt distress, although it has received substantial debt relief. The increases in world food and fuel prices have rekindled domestic inflation pressures. Inflation has declined substantially since 2008, but remains at double-digit levels. A tightening of fiscal and monetary policies in 2008 followed by a decline in world food and oil prices helped lower year-over-year inflation from a peak of 37 percent in July 2008 to 11.5 percent in June 2010.
Once Upon a Tome: The Misadventures of a Rare Bookseller
Instant National Bestseller Shortlisted for the 2023 Inc. Non-Obvious Book Award "Witty, literary and very funny." —Minneapolis Star Tribune Welcome to Sotheran’s, one of the oldest bookshops in the world, with its weird and wonderful clientele, suspicious cupboards, unlabeled keys, poisoned books, and some things that aren’t even books, presided over by one deeply eccentric apprentice. Some years ago, Oliver Darkshire stepped into the hushed interior of Henry Sotheran Ltd (est. 1761) to apply for a job. Allured by the smell of old books and the temptation of a management-approved afternoon nap, Darkshire was soon unteetering stacks of first editions and placating the store’s residen...
