23 March 2017
Sao Tome and Principe should avoid getting into debt in order to maintain a situation that is sustainable, said on Wednesday in Sao Tome the new head of a mission of the International Monetary Fund (IMF) to the archipelago, Xiangming Li. The IMF mission started its third assessment of the programme with Sao Tome and Principe, which will last for two weeks, having held an initial meeting with the Minister of Finance, Trade and the Blue Economy, Américo Ramos.
13 March 2017
The Macau Trade and Investment Promotion Institute (IPIM) is "very interested" in Sao Tome and Principe, and is awaiting the official establishment of relations between the two countries, the President of IPIM told Macauhub in Lisbon. Following the reestablishment of diplomatic relations on 26 December 2016, the process "is taking place" on a diplomatic level and IPIM has "to wait for clear guidelines from the central government," in view of its work to promote trade relations, said Jackson Chang.
10 March 2017
China will support the government of Sao Tome and Principe to allow the West African archipelago to have a sustainable economy through Chinese investment in tourism, agriculture, infrastructure, industry, human resources and security, a representative of the Chinese government said a few days ago in Sao Tome. Lin Songtian, the Director General of the Department of African Affairs of the Ministry of Foreign Affairs, was received by the Prime Minister of Sao Tome and Principe, Patrice Trovoada, with whom he discussed issues concerning the future areas of the framework cooperation programme to be signed soon by the two countries.
10 March 2017
Trade between China and Portuguese-speaking countries totalled US$8.281 billion in January 2017, which was a year-on-year increase of 7.52%, according to official figures from China released by Forum Macau. Angola and Brazil accounted in January for 92% of trade between China and the eight Portuguese-speaking countries with a total of US$7.625 billion.
21 February 2017
Sao Tome and Principe spent 122.6 billion dobras (US$5.3 million) on rice in 2016, the most imported food product, the Sao Tome National Statistics Institute (INE) told Macauhub on Monday. Data provided by INE showed that rice imports accounted for 29.4% of imports of food products in 2016, with 8,314 tonnes and a cost of US$5.3 million, compared to US$6.2 million in 2015.
17 February 2017
16 February 2017
Portugal is the Portuguese-speaking country placed highest in the Index of Economic Freedom of the American Heritage Foundation and Timor-Leste (East Timor) is classified lowest, according to the report for 2017 released by the foundation. Portugal was included in the group of moderately free countries, in fact the only one of eight Portuguese-speaking nations, but fell by 2.5 points compared to its score for 2016, with 62.6 points and now standing in 77th place out of 180 countries.
14 February 2017
Sao Tome and Principe raised around 192.2 billion dobras (US$8.3 million) in 2016 with cocoa sales, which accounted for 93.5% of all agricultural exports, the National Statistics Institute (INE) of the archipelago told Macauhub in Sao Tome on Monday. INE also said that in terms of nominal values in dobras (Sao Tome's currency) it recorded an increase of 8.8% due to the exchange rate and quality of Sao Tome cocoa in foreign markets.
10 February 2017
A Chinese medical team has been in Sao Tome and Principe since Thursday to provide health care in the archipelago's hospitals, said the head of the Chinese mission, Wang Jun Quiang. Jun Quiang told Macauhub that it was "the first Chinese medical mission to come out of a bilateral agreement in the health sector," following the re-establishment on 26 December of diplomatic relations between China and Sao Tome and Principe, replacing Taiwan.
9 February 2017
7 February 2017
US oil company, Kosmos Energy and Portugal's Galp Energia have started seismic surveys for oil in four blocks of the Exclusive Economic Zone of Sao Tome and Principe, the director of the National Oil Agency told Macauhub on Monday. Orlando Sousa Pontes said, "Less than 48 hours ago Kosmos and Galp Energia started seismic work in blocks 5,6, 11 and 12 as planned," in production sharing contracts signed with the National Oil Agency.
20 January 2017
20 January 2017
20 January 2017
16 January 2017
Developing and low-income countries, such as Mozambique, Guinea-Bissau and Sao Tome and Principe, should seek to diversify their economies and exports, said the International Monetary Fund (IMF) in a recently released report. The report on "Low Income Developing Countries" that are exporters of raw materials said these countries remain under "significant economic pressure," with anaemic growth, large fiscal imbalances and weak foreign reserve positions."
13 January 2017
12 January 2017
11 January 2017
10 January 2017
Nine large companies from China are due to arrive in Sao Tome and Principe to analyse, together with the government, the possibility of implementing large infrastructure projects, announced the Prime Minister of Sao Tome. Patrice Trovoada also said it was possible that a Chinese company would be involved in building a deep water port, a Sao Tomean project with an estimated cost of over US$800 million, with work due to start this year.
9 January 2017