IMF recommends Sao Tome and Principe to improve tax collection

12 February 2016

A mission from the International Monetary Fund urged the government of Sao Tome and Principe to “improve tax collection and strengthen the financial system” at the end of a three-day visit during which it met with various representatives of the country.

The director of the IMF’s Africa department, Antoinette Saieh, stressed the need for the government to “strengthen the economy and consolidate growth at a higher level” and should therefore proceed with other important reforms, according to Portuguese news agency Lusa.

“Right now, Sao Tome and Principe has an encouraging economic outlook” said Saieh, predicting that the gross domestic product of the country would grow 5 percent this year, “due to greater public investment, a recovery in cocoa production and an increase in foreign investment in tourism.”

The director of the IMF’s Africa department, in Sao Tome for the fist time, met with Prime Minister Patrice Trovoada, President of the National Assembly (parliament), José da Graça Diogo, the Minister of Finance and Public Administration, as well as parliamentarians and representatives of the private sector and civil society.

Sao Tome and Principe has been implementing and Adjustment Programme with the IMF and the World Bank for the last 30 years. (macauhub/ST)