IMF wants Sao Tome govt. to “redouble efforts” to meet agreed targets

21 September 2016

The government of Sao Tome and Principe should make “a redoubled effort” in terms of tax to achieve the goals the IMF wants to see completed by December, the deputy director of the IMF’s Africa Department said in Sao Tome.

“It has been found that on a tax level a redoubled effort is required to achieve the goals set for December and in terms of structural reforms it is necessary to move a little faster,” said David Owen.

On Monday the IMF began a 15-day mission to the West African archipelago for a second evaluation of its programme with the country.

“Basically we are making an assessment of what has been achieved to June, particularly in the monetary and fiscal sector, to see what progress has been made,” said the IMF official, who met at the Ministry of Finance with a team of representatives of the departments of the Treasury, Budget, Taxes and Customs.

The International Monetary Fund found a lack of compliance by the Sao Tome authorities of the targets set for the months of January to June and the Sao Tome government blamed the increase in spending on the election period.

“We are well aware that 2016 has been a somewhat difficult year, it is an election year and in any country in the world the election year is characterised by a pressure on costs, but we have the situation more or less controlled,” said the Minister of Finance and Public Administration, Américo Ramos, according to Portuguese news agency Lusa. (macauhub/ST)