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Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513594354
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
EXECUTIVE SUMMARY Context: São Tomé and Príncipe’s economic development is constrained by its insularity, fragility, limited resources, and low capacity as a small island state. The current ECF arrangement is set to expire on July 19, 2015, with four reviews outstanding. Program performance was satisfactory during the first year and half of implementation but went off track in early 2014 upon the contracting of a loan resulting in nonobservance of the performance criterion on non-concessional debt, and expenditure slippages in the run up to national elections further delayed program resumption. In the meantime, the key assumptions of the macroeconomic framework agreed under the current program changed significantly due to a lower probability of commercial oil production. Extended Credit Facility. The São Toméan authorities have requested a three-year arrangement under the ECF in an amount equivalent to SDR 4,440,000 (60 percent of quota) to rebuild buffers and catalyze financing in support of their medium-term economic reform program. The existing program would be cancelled. Main elements of the program. The program seeks to address the high debt vulnerability while also creating the conditions for sustained growth, anchored by the PRSP II. This involves reforms to: • Strengthen domestic revenue mobilization, expenditure rationalization, public debt management, and public financial management to restore fiscal discipline and reduce the risk of debt distress. • Introduce a comprehensive plan to eliminate the stock of arrears and also prevent the accumulation of new arrears. • Enhance the capacity of key government institutions through well-tailored technical assistance (TA). • Enhance financial sector stability through strengthened supervisory, regulatory, crisis management and bank resolution frameworks.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513594354
Category : Business & Economics
Languages : en
Pages : 97
Get Book Here
Book Description
EXECUTIVE SUMMARY Context: São Tomé and Príncipe’s economic development is constrained by its insularity, fragility, limited resources, and low capacity as a small island state. The current ECF arrangement is set to expire on July 19, 2015, with four reviews outstanding. Program performance was satisfactory during the first year and half of implementation but went off track in early 2014 upon the contracting of a loan resulting in nonobservance of the performance criterion on non-concessional debt, and expenditure slippages in the run up to national elections further delayed program resumption. In the meantime, the key assumptions of the macroeconomic framework agreed under the current program changed significantly due to a lower probability of commercial oil production. Extended Credit Facility. The São Toméan authorities have requested a three-year arrangement under the ECF in an amount equivalent to SDR 4,440,000 (60 percent of quota) to rebuild buffers and catalyze financing in support of their medium-term economic reform program. The existing program would be cancelled. Main elements of the program. The program seeks to address the high debt vulnerability while also creating the conditions for sustained growth, anchored by the PRSP II. This involves reforms to: • Strengthen domestic revenue mobilization, expenditure rationalization, public debt management, and public financial management to restore fiscal discipline and reduce the risk of debt distress. • Introduce a comprehensive plan to eliminate the stock of arrears and also prevent the accumulation of new arrears. • Enhance the capacity of key government institutions through well-tailored technical assistance (TA). • Enhance financial sector stability through strengthened supervisory, regulatory, crisis management and bank resolution frameworks.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513517430
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
This paper discusses Democratic Republic of São Tomé and Príncipe’s Request for a 40-Month Arrangement Under the Extended Credit Facility (ECF). The ECF aims to support São Tomé and Príncipe’s economic and structural reforms. The program aims to reduce debt vulnerability, alleviate balance of payment pressures, restore fiscal and external sustainability over the medium term, promote sustainable and inclusive growth, and provide positive signals to stakeholders. Structural reforms should help mobilize revenue, enhance control over public spending, reduce contingent liabilities from state owned enterprises, improve financial stability, and promote sustainable and inclusive growth to reduce poverty, including through empowering women economically. The government plans to undertake sustained fiscal consolidation and reforms to reduce debt vulnerability. A floor on pro-poor spending, along with a World Bank social protection program, will protect the most vulnerable. The Fund-supported program will also play a catalytic role and provide positive signals to stakeholders.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451835132
Category : Business & Economics
Languages : en
Pages : 77
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Book Description
This paper examines the consideration of the Democratic Republic of São Tomé and Príncipe’s debt relief at the completion point under the enhanced Initiative for Heavily Indebted Poor Countries and Debt Relief under the Multilateral Debt Relief Initiative. Lower-than-projected export receipts largely owing to drought conditions and lower-than-expected tourism receipts, changes in cross-currency exchange rates, and variations in discount rates have been all unambiguously exogenous and outside the control of the authorities. There is need for continued fiscal prudence, policies to support broad-based growth and export diversification, continued donor support, and prudent debt management.
Author: Gerhard Seibert
Publisher: BRILL
ISBN: 9047408438
Category : Social Science
Languages : en
Pages : 635
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Book Description
This book provides comprehensive information on the 500-year long colonial history, post-colonial politics, and local political culture and practice of the island republic of São Tomé and Príncipe, one of the smallest and least known African countries.
Author: Marina Novelli
Publisher: Routledge
ISBN: 1351022539
Category : Business & Economics
Languages : en
Pages : 541
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Book Description
This book provides a comprehensive and readable overview of the critical debates and controversies around tourism in Africa, and the major factors that are affecting tourism development now and in the future. Drawing upon research emerging from collaborations between a growing number of African academics and practitioners based in the continent and in the African diaspora as well as international colleagues, the Handbook offers key critical insights into the issues, challenges and trends that Africa and African tourism is facing. Part I covers continent-wide issues such as climate change, ICT, heritage and development. The remaining parts are organised along geographic lines, with each chapter covering the development of tourism, current trends and discussion of critical issues such as community participation, gender, backpacking, urban tourism, wildlife tourism and conservation. Combining an overview of key theories, concepts, contemporary issues and debates, this book will be a valuable resource for students, academics and practitioners investigating the role of tourism in Africa.
Author: Benjamin J. Hurlbut
Publisher: Columbia University Press
ISBN: 0231542917
Category : Medical
Languages : en
Pages : 376
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Book Description
Human embryo research touches upon strongly felt moral convictions, and it raises such deep questions about the promise and perils of scientific progress that debate over its development has become a moral and political imperative. From in vitro fertilization to embryonic stem cell research, cloning, and gene editing, Americans have repeatedly struggled with how to define the moral status of the human embryo, whether to limit its experimental uses, and how to contend with sharply divided public moral perspectives on governing science. Experiments in Democracy presents a history of American debates over human embryo research from the late 1960s to the present, exploring their crucial role in shaping norms, practices, and institutions of deliberation governing the ethical challenges of modern bioscience. J. Benjamin Hurlbut details how scientists, bioethicists, policymakers, and other public figures have attempted to answer a question of great consequence: how should the public reason about aspects of science and technology that effect fundamental dimensions of human life? Through a study of one of the most significant science policy controversies in the history of the United States, Experiments in Democracy paints a portrait of the complex relationship between science and democracy, and of U.S. society's evolving approaches to evaluating and governing science's most challenging breakthroughs.
Author: Robin Law
Publisher: Boydell & Brewer Ltd
ISBN: 184701075X
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
This book considers commercial agriculture in Africa in relation to the trans-Atlantic slave trade and the institution of slavery within Africa itself, from the beginnings of European maritime trade in the fifteenth century to the early stages of colonial rule in the twentieth century. From the outset, the export of agricultural produce from Africa represented a potential alternative to the slave trade: although the predominant trend was to transport enslaved Africans to the Americas to cultivate crops, there was recurrent interest in the possibility of establishing plantations in Africa to produce such crops, or to purchase them from independent African producers. This idea gained greater currency in the context of the movement for the abolition of the slave trade from the late eighteenth century onwards, when the promotion of commercial agriculture in Africa was seen as a means of suppressing the slave trade. At the same time, the slave trade itself stimulated commercial agriculture in Africa, to supply provisions for slave-ships in the Middle Passage. Commercial agriculture was also linked to slavery within Africa, since slaves were widely employed there in agricultural production. Although Abolitionists hoped that production of export crops in Africa would be based on free labour, in practice it often employed enslaved labour, so that slavery in Africa persisted into the colonial period. Robin Law is Emeritus Professor of African History, University of Stirling; Suzanne Schwarz is Professor of History, University of Worcester; Silke Strickrodt is Visiting Research Fellow at the Department of African Studies and Anthropology, University of Birmingham.
Author: Mirjam Künkler
Publisher: Columbia University Press
ISBN: 0231161913
Category : History
Languages : en
Pages : 274
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Book Description
In 1998, Indonesia's military government collapsed, creating a crisis that many believed would derail its democratic transition. Yet the world's most populous Muslim country continues to receive high marks from democracy-ranking organizations. In this volume, political scientists, religious scholars, legal theorists, and anthropologists examine Indonesia's transition compared to Chile, Spain, India, and potentially Tunisia, and democratic failures in Yugoslavia, Egypt, and Iran. Chapters explore religion and politics and Muslims' support for democracy before change.
Author: Nic Cheeseman
Publisher: Cambridge University Press
ISBN: 1316239489
Category : History
Languages : en
Pages : 269
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Book Description
This book provides the first comprehensive overview of the history of democracy in Africa and explains why the continent's democratic experiments have so often failed, as well as how they could succeed. Nic Cheeseman grapples with some of the most important questions facing Africa and democracy today, including whether international actors should try and promote democracy abroad, how to design political systems that manage ethnic diversity, and why democratic governments often make bad policy decisions. Beginning in the colonial period with the introduction of multi-party elections and ending in 2013 with the collapse of democracy in Mali and South Sudan, the book describes the rise of authoritarian states in the 1970s; the attempts of trade unions and some religious groups to check the abuse of power in the 1980s; the remarkable return of multiparty politics in the 1990s; and finally, the tragic tendency for elections to exacerbate corruption and violence.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264267999
Category :
Languages : en
Pages : 326
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Book Description
This publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.
