Democratic Republic of São Tomé and Príncipe: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility—Staff Report; and Press Release on the Executive Board Consideration
Volume/Issue:
Volume 2006
Issue 400
Publication date: November 2006
ISBN: 9781451835113
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Topics covered in this book
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Banks and Banking , Labor , Economics- Macroeconomics , ISCR , CR , Three-Year PRGF arrangement , completion of the review , amount equivalent to SDR , monetary policy , amount of SDR , debt relief , interest rate , foreign exchange , exchange rate , Oil , Debt relief , Bonuses , International reserves , Global
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Summary
In 2005, the overall macroeconomic performance was broadly satisfactory, notwithstanding an increase in inflation. All performance criteria were met. Structural reforms advanced, and delays in preparing feasibility studies for restructuring the airport and seaport authorities are being addressed. Economic performance in 2005 was broadly satisfactory, although inflation accelerated. The fiscal program is designed to protect pro-poor spending. The program assumes a broadly stable velocity of circulation of money. The macroeconomic outlook and the program are subject to risks.
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