São Tomé and Principe to receive US$557,000 from International Monetary Fund

17 July 2013

The International Monetary Fund has approved payment of a US$557,000 second installment of the loan to São Tomé and Principe, after satisfactory conclusion of the first adjustment programme evaluation.

“In light of the good performance so far and the authorities’ commitment to strong policies, staff support the authorities’ request for the completion of the first review under the three-year arrangement,” reads the evaluation report released by the IMF, which will lend almost US$7.8 million to the island country.

The IMF staff consider that the introduction of a number of reforms has been positive, indicating that four of the five structural benchmarks have been totally met since December 2012 and the other partially implemented. (macauhub)