IMF Staff Country Reports

Democratic Republic of São Tomé and Príncipe: First Review Under the Extended Credit Facility Arrangement

Publication Date:

July 15, 2013

Electronic Access:

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Summary:

This paper discusses the Democratic Republic of São Tomé and Príncipe’s First Review under the Extended Credit Facility Arrangement. The economy remains vulnerable to external and domestic shocks. Growth decelerated to 4 percent in 2012, reflecting persistent global uncertainties, particularly in Europe, which contributed to a slowdown in foreign direct investment, and in the execution of the foreign-financed public investment program. Commercial banks profitability and capital-to-risk weighted assets ratio declined in 2012, reflecting more challenging lending conditions. The central bank continues to strengthen its banking supervision function through on-site inspections and enforcement of banking regulation.

Series:

Country Report No. 2013/208

Subject:

Bank deposits Central banks Commercial banks Financial institutions Financial services Imports International reserves International trade National accounts

Notes:

Also Available in Portuguese