Democratic Republic of São Tomé and Príncipe : First Review Under the Three Year Arrangement Under the Extended Credit Facility Arrangement, and Request for Waivers of Performance Criteria: Staff Report; Staff Supplement; and Press Release on the Executiv

This paper presents the Democratic Republic of São Tomé and Príncipe's first review under the Three Year Arrangement under the Extended Credit Facility Arrangement. After averaging 6 percent a year over several years, real GDP growth in 2009 is estimated at 4 percent, reflecting a decline in foreign direct investment (FDI), which in part reflected the impact of the global crisis. Growth is expected to rebound in 2010, based on new FDI and increased official external financing.