IMF Staff Country Reports

Democratic Republic of São Tomé and Príncipe: 2025 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé and Príncipe

August 8, 2025

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Format: Chicago

International Monetary Fund. African Dept. "Democratic Republic of São Tomé and Príncipe: 2025 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé and Príncipe", IMF Staff Country Reports 2025, 228 (2025), accessed August 10, 2025, https://doi.org/10.5089/9798229020152.002

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Summary

São Tomé and Príncipe (STP) remains fragile and is grappling with structural challenges typical of small island developing states. This structural fragility is further exacerbated by the country’s narrow export base, heavy dependence on fuel imports, and steady labor force losses from emigration. The macroeconomic conditions are gradually improving, supported by the Extended Credit Facility (ECF) arrangement approved in December 2024. A new government was appointed in January 2025, and it has reiterated its commitment to the Fund-supported program.

Subject: Arrears, Central Banks, Debt sustainability, Economic sectors, Energy sector, External debt, Imports, International reserves, International trade, Public debt, Revenue administration

Keywords: Arrears, Debt sustainability, Energy sector, Expenditure, Exports, Imports, International reserves, Prior actions

Publication Details

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