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International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with São Tomé and Príncipe

The authorities’ ambitious reform program aims at restoring macroeconomic stability while laying the foundations for faster and more inclusive growth

IMF staff and the São Toméan authorities have reached staff-level agreement on economic policies and reforms to be supported by a new 40-month arrangement under the Extended Credit Facility (ECF), updating the agreement reached last year. This renewed staff-level agreement is subject to IMF Management approval and IMF Executive Board…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with São Tomé and Príncipe

Efforts to boost domestic fiscal revenues and to rationalize budgetary expenditures will support policies to protect society’s most vulnerable from the burden of the needed adjustment

An International Monetary Fund (IMF) team led by Mr. Slavi Slavov, Mission Chief for São Tomé and Príncipe, visited São Tomé during February 9 – 23, 2023 and held virtual discussions in the recent weeks, to discuss with the São Toméan authorities IMF support for their policy and reform plans.…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Visit to São Tomé and Príncipe

The IMF mission held meetings with representatives of the government, the central bank, and the Parliament

An International Monetary Fund (IMF) team visited São Tomé and Príncipe during November 28 – December 9, 2022, to review recent economic developments and discuss with the authorities challenges facing the country. The authorities expressed strong interest in a new arrangement with the IMF to help them anchor the new…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: International Monetary Fund (IMF) Staff Completes a Virtual Extended Credit Facility First Review Mission for São Tomé and Príncipe

The COVID-19 pandemic is expected to cause the economy to contract sharply by 6.5 percent this year

The COVID-19 pandemic is expected to cause a sharp real economic contraction of 6.5 percent in 2020 and raise large health and social needs; Program performance under the Extended Credit Facility (ECF) had a good start, but progress has been hampered by the pandemic and some policy slippages prior to…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: International Monetary Fund (IMF) Executive Board Approves a US$12 Million Disbursement to São Tomé and Príncipe to Address the COVID-19 Pandemic

The country will also benefit from IMF debt service relief under the Catastrophe Containment and Relief Trust

The COVID-19 pandemic is taking a heavy toll on São Tomé and Príncipe’s economy; To address the urgent balance-of-payments needs, the IMF approved about US$12 million emergency assistance for São Tomé and Príncipe under the Rapid Credit Facility. The country will also benefit from IMF debt service relief under the…