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.
22 January 2016
The United Nations has provided more than US$5.2 million to São Tomé and Príncipe to finance a "sustainable development" project in the archipelago - announced the UN representative in São Tomé, José Salema. The United Nations support for the project was formalised in a document signed by the representative and the São Tomé Minister of Environment and Natural Resources, Carlos Vila Nova.
20 January 2016
15 January 2016
The difficulties of the oil industry in Angola may be an obstacle to the shareholders of São Tomé fuel and oil company ENCO "to view São Tomé and Príncipe with confidence," the chairman of the company said Thursday in São Tomé. "Hopefully the constraints linked to the current economic situation, particularly in the Angolan oil industry, will not be an obstacle to the smooth running of ENCO's activities," said the Angolan Adalberto Nhinguisa during the inauguration of the company's new headquarters, a project that cost US$10 million.
8 January 2016
The Major Planning Options and the 2016 State Budget of São Tomé and Príncipe, whose discussion started in the country's parliament, include an economic growth forecast of 5 percent and an inflation rate of around 4 percent, according to press reports. This budget proposal outlines expenses of about 152 million euros, an increase of 34 percent compared to the execution forecast to December 2015 and that already takes account of the credit facility agreed with the International Monetary Fund (IMF).
6 January 2016