IMF Staff Country Reports

IMF Staff Country Reports
Journal
Publisher:
International Monetary Fund
ISSN:
1934-7685
The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
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Sao Tomé and Príncipe : Recent Economic Developments and Selected Issues

Sao Tomé and Príncipe : Recent Economic Developments and Selected Issues
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Volume/Issue:
1997/81
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
September 1997
DOI:
http://dx.doi.org/10.5089/9781451834970.002
ISBN:
9781451834970
ISSN:
1934-7685
Page:
76
This Selected Issues paper highlights that the financial performance of Sao Tomé and Príncipe, after improving in 1995, deteriorated again in 1996, while production continued to stagnate. In 1995, the authorities adopted policies aimed at stabilizing the economy, which led to a significant improvement in the fiscal position. The strengthening of control over monetary expansion made possible a reduction of end-of-period inflation to 37 percent, from 75 percent in 1994. In 1996, however, fiscal slippages and the consequent monetary financing of the budget deficits resulted in a resurgence of inflation and currency depreciation.
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