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International Monetary Fund. African Dept.

shortages, which have been partly overcome by repairing faulty generators. Text Figure 1. COVID-19 cases and vaccination progress Sources: Our World In Data and STP authorities. 2. The authorities’ swift actions and international support helped mitigate the pandemic’s impact so far . The pandemic exacerbated social vulnerabilities, considering that one-third of the population still lives in extreme poverty. The authorities’ 2020 fiscal response, about 2.9 percent of GDP in additional spending, focused on boosting healthcare and public projects, expanding

International Monetary Fund. African Dept.

.8 5.1 Financed by the Treasury 0.3 0.1 -0.2 0.4 0.3 0.8 5.2 Financed by privatization proceeds 0.0 0.0 0.0 0.0 0.0 0.0 6 HIPC Initiative-related social expenditure 0.2 0.1 -0.1 0.2 0.3 0.3 7 COVID-19 spending financed by the Treasury 1/ 1.3 0.4 -0.9 1.0 1.0 0.0 III Domestic primary balance (= I.A–II.A) -3.5 -3.3 0.2 -2.0 -3.2 -2.8 Sources: STP authorities; and Fund staff estimates. 1/ Does not include 23.6 billion dobras in COVID

International Monetary Fund

authorities will finalize by the end-September 2005 an overall strategy for the oil sector development, with the assistance of the World Bank and UNDP. In particular, the strategy will address options for institutional settings regarding the development of the country’s Exclusive Development Zone (EDZ) and the country’s possible participation in petroleum exploration and development activities. In accordance with the Abuja Declaration, my authorities intend to foster the production, and dissemination of oil-related information. Conclusion My STP authorities view

International Monetary Fund. African Dept.

Domestic and international air transport ENCO Empresa Nacional de Combustíveis e Óleos 1997 SARL 16 Import, wholesale distribution, and retail distribution of gasoline and liquid petroleum gas (LPG) Source: STP Authorities. Figure 7. Risk Ratings After COVID-19 Crisis SOE Risk Ratings (2020) Figure 8. Risk Ratings Before COVID-19 Crisis SOE Risk Ratings (2019) Source: SOE Health Check Tool (SOEHCT). EMAE-Already in Trouble Pre-COVID-19 11. EMAE is facing severe operational and technical difficulties that

International Monetary Fund
This paper reviews the request from the São Tomé and Príncipe authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). In 2004, the economy continued to grow at a moderate pace, but inflation increased to 15 percent by year-end, as bank credit to the private sector rose sharply and the government loosened fiscal policy. The proposed program for 2005–07 aims at correcting macroeconomic imbalances and sets the conditions for sustained strong growth. Real GDP growth is envisaged to slow down in 2005 in response to tight financial policies.
International Monetary Fund

This paper reviews the request from the São Tomé and Príncipe authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). In 2004, the economy continued to grow at a moderate pace, but inflation increased to 15 percent by year-end, as bank credit to the private sector rose sharply and the government loosened fiscal policy. The proposed program for 2005–07 aims at correcting macroeconomic imbalances and sets the conditions for sustained strong growth. Real GDP growth is envisaged to slow down in 2005 in response to tight financial policies.

International Monetary Fund

This paper reviews the request from the São Tomé and Príncipe authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). In 2004, the economy continued to grow at a moderate pace, but inflation increased to 15 percent by year-end, as bank credit to the private sector rose sharply and the government loosened fiscal policy. The proposed program for 2005–07 aims at correcting macroeconomic imbalances and sets the conditions for sustained strong growth. Real GDP growth is envisaged to slow down in 2005 in response to tight financial policies.