Publication date: 2016, June
Author: IMF
Description: São Tomé and Príncipe’s economy has been resilient even after prospects for commercial oil production became uncertain with the withdrawal of a large oil company from exploration. In addition, performance under the program supported by the Extended Credit Facility has been satisfactory. International reserves have increased, and inflation has continued to decline, reaching its lowest level in the past two decades. Fiscal performance was, however, impacted by tax revenue underperformance.
