Sao Tome and Principe: Political crisis in Sao Tome leads Portugal to postpone archipelago’s debt pardon

29 May 2008

Sao Tome, Sao Tome and Principe, 5 Sept – The fall of the government of Sao Tome and Principe has led Portugal to postpone is debt pardon to the archipelago and of a credit line worth 50 million euros, the minister of Finance said Wednesday in Sao Tome.

In a press conference, Raul Cravid said that the Portuguese finance minister, Teixeira dos Santos, had been expected to arrive in the country Thursday for a two-day visit, but had put off the visis indefinitely.

Cravid said that, during the visit, Teixeira dos Santos had been due to sign a memorandum for a 20 million-euro credit line, for teh purchase of food and capital, and a debt pardon agreement with Portugal, of US$30.8 million (19.7 million euros).

“Due to the decision of the National Assembly, we are a management government and agreements of this kind are only signed with legal and legitimate governments,” said the Sao Tome minister.

The mambers of São Tome and Principe’s National Assembly on 20 May approved, by majority vote, a motion that led to the fall of the government led by prime minister Patrice Trovoada. (macauhub)