Cover IMF Staff Country Reports
Sao Tome and Principe: Review of Performance Under a Staff-Monitored Program
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2002: Issue 270
Language:
English
Publication Date:
27 Dec 2002
DOI:
https://doi.org/10.5089/9781451835052.002
ISBN:
9781451835052
ISSN:
1934-7685
Pages:
58
Keywords:
ISCR; CR; government; net; procurement contract; government's contracting; São Tomé and Príncipe authorities; authorities' resolve; macroeconomic objective; government operation; HIPC Initiative; credit to government; government contract; Debt service; Oil; Arrears; Africa
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This paper reviews performance of Sao Tome and Principe under the Staff-Monitored Program (SMP). Sao Tome and Principe's Poverty Reduction and Growth Facility-supported program went off track at end-2000 because of fiscal and structural slippages, which were compounded in 2001 by the emergence of oil-sector governance concerns. The authorities requested an SMP for the first half of 2002, but spending overruns reoccurred, and most of the SMP’s benchmarks were missed. Program implementation during the first half of 2002 was disappointing, as the key quantitative benchmarks for end-June 2002 were not observed.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2002: Issue 270