Democratic Republic of São Tomé and Príncipe: Request for a Three-Year Arrangement Under the Extended Credit Facility
Volume/Issue:
Volume 2012
Issue 216
Publication date: August 2012
ISBN: 9781475505702
$20.00
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Topics covered in this book
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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , government , deficit , debt , anti-money laundering framework , anti-money laundering law , São Toméan authorities , monetary management , authorities' effort , International reserves , Bank deposits , Global , Sub-Saharan Africa , Africa , Europe
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Summary
The Democratic Republic of São Tomé and Príncipe shows prudence in maintaining its fiscal stance assisted by the IMF extended credit facility (ECF). The authorities aim to concentrate on maintaining macroeconomic stability even though debt distress owing to a narrow export base and other issues loom as threats. Focus is on strengthening of existing monetary and public finances policies, banking supervision, and anti-money laundering, which will help in reducing poverty. Revenue from oil production is also expected to help achieve the target by 2015.
