Democratic Republic of São Tomé and Príncipe: Debt Relief at the Completion Point Under the Heavily Indebted Poor Countries Initiative and Under the Multilateral Debt Relief Initiative

Volume/Issue: Volume 2007 Issue 173

Publication date: May 2007

ISBN: 9781451835137

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Industries - Energy , ISCR , CR , U , S , dollar , São Tomé and Príncipe authorities , current account , long-term debt , NPV of debt-to-exports ratio , public expenditure , MDRI debt relief , Hipc assistance , public finance , IMF staff estimate , Sãotoméan authorities , organic law , staff estimate , government contract , Debt relief , Debt service , Public and publicly-guaranteed external debt , Oil , Oil production , Africa

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Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

This paper examines the consideration of the Democratic Republic of São Tomé and Príncipe’s debt relief at the completion point under the enhanced Initiative for Heavily Indebted Poor Countries and Debt Relief under the Multilateral Debt Relief Initiative. Lower-than-projected export receipts largely owing to drought conditions and lower-than-expected tourism receipts, changes in cross-currency exchange rates, and variations in discount rates have been all unambiguously exogenous and outside the control of the authorities. There is need for continued fiscal prudence, policies to support broad-based growth and export diversification, continued donor support, and prudent debt management.