São Tomé and Príncipe (STP), a lower-middle-income small island nation, is undergoing a significant wave of emigration, primarily driven by limited job opportunities and economic prospects, particularly among younger generations. This paper explores migration's drivers, dynamics, and impacts...

Migration is a global phenomenon that significantly affects individuals, families, and the broader society, offering prospects for socioeconomic development in both origin and destination countries. Africa is experiencing many of the factors that drive migration and is anticipated to be the...

In Säo Tomé and Principe, tourism is seen as a crucial sector for driving economic growth. Sustainable tourism is prominently featured in various diagnostic reports and national strategies concerning Säo Tomé and Principe. The World Bank's Systematic Country Diagnostic underscores the...

The assessment presents findings from comprehensive desk research, semi-structured interviews, and key informant interviews conducted in-person in São Tomé and Príncipe in September 2023. The report is structured as follows: Section 2 presents the methodology, including the assessment...

The people of São Tomé and Príncipe (STP), a small fragile island state, have faced extraordinary challenges. STP continues to struggle with high fuel import needs, limited export potential, and depleted international reserves, and faced a massive balance of payments (BOP) shock in early...

This study's aim was to assess the growing flood risk Sao Tome and Principe (STP) faces due to climate change. It achieved this by carrying out a nationwide risk assessment for riverine and coastal flooding. The study used recently completed high-resolution national flood hazard data for the...

The COVID-19 pandemic exacerbated long-standing socio-economic vulnerabilities, which were further compounded by persistent energy shortages, flood-related damages at end-2021, and a sharp increase in global fuel and food prices caused by the war in Ukraine. These have put pressure on domestic...

São Tomé and Príncipe has maintained macroeconomic stability, despite many challenges. The COVID-19 pandemic exacerbated long-standing socio-economic vulnerabilities, which were further compounded by persistent energy shortages and damages from the floods in end-2021. Growth declined in 2021...

This brief examines the introduction of landmark reforms in São Tomé and Príncipe to counter domestic and family violence and to protect women, both at home and at work. The enactment of laws on domestic and family violence, and the subsequent introduction of the country's new Penal Code and,...

Social safety net programs focus on a subset of the population, usually the poorest and most vulnerable. However, in most developing countries there is no administrative data on relative wealth of the population to support the selection process of the potential beneficiaries of the social safety...

Organic agriculture, in addition to supporting environmental sustainability, has been a meaningful way to protect and develop small farming in developing regions. The changes that have occurred within the value chain, such as increases in global standards and the effect of globalization, have...

Sao Tome and Principe has maintained macroeconomic stability in the period since the previous ECF review (February 2021). International support and the authorities' swift actions helped mitigate the impact of the pandemic so far. Growth is estimated at 3 percent in 2020, supported by...

The COVID-19 pandemic is having a severe impact on Sao Tome and Principe's economy, exacerbating fiscal and external imbalances. Tourism activities and external remittances dropped sharply, while lockdown measures further deepened the recession. The authorities' swift actions and unprecedented...

São Tomé and Príncipe (STP), a small island nation of 215,000 people in the Gulf ofGuinea off the coast of Central Africa, is in many ways a country of great untapped wealth. One of Africa's least known countries, its striking volcanic landscape is hometo virgin rainforests with rich...

There is no generic definition of joint venture in law. However, Black's Law Dictionary defines joint venture as a: “Business undertaking by two or more persons engaged in a single defined project. The necessary elements are: An express or implied agreement; a common purpose that the group...

The link between tourism and growth is very important for some countries, especially small island countries like São Tomé and Príncipe. This paper investigates the empirical determinants of tourism outcomes (tourist arrivals and expenditures) and uses the findings to assess the performance of...

The pandemic is taking a heavy toll on the fragile island nation of Sao Tome and Principe. Tourist arrivals came to an abrupt halt in mid-March, externally financed projects are being delayed, and supply shipments are disrupted. In response to the local outbreak, emergency confinement measures...

This paper presents Sao Tome and Principe's Request for Disbursement Under the Rapid Credit Facility (RCF). The authorities of Sao Tome and Principe have moved swiftly to develop a plan to address the major challenges posed by the coronavirus disease 2019 pandemic. The authorities plan to...

The link between tourism and growth is very important for some countries, especially small island countries like São Tomé and Príncipe. This paper investigates the empirical determinants of tourism outcomes (tourist arrivals and expenditures) and uses the findings to assess the performance of...

This paper discusses Democratic Republic of Sao Tome and Principe's Request for a 40-Month Arrangement Under the Extended Credit Facility (ECF). The ECF aims to support Sao Tome and Principe's economic and structural reforms. The program aims to reduce debt vulnerability, alleviate balance of...

São Tomé and Príncipe (STP) is one of the smallest economies in Africa, a lower-middle-income, developing small-island state with a fragile economy, and it is therefore highly vulnerable to exogenous shocks. The World Bank, with support from the energy sector management assistance program...

This note examines the competitiveness of the export sector in São Tomé and Príncipe. It relies on the framework developed by Reis and Farole (2012) and examines the export competitiveness along four complementary dimensions: export growth and market shares, diversification in terms of...

This Selected Issues paper focuses on the prospects of growth in Sao Tome and Principe (STP). This case study seeks explanations for STP's relative under-performance and draws lessons for the future. It compares past economic developments in the islands and recommends policies that could most...

This paper discusses Sao Tome and Principe's 2018 Article IV Consultation, Fifth Review Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Financing Assurances Review. Sao Tome and Principe's GDP growth in 2017 is estimated at about 4 percent,...

This paper discusses Sao Tome and Principe's Third and Fourth Reviews Under the Extended Credit Facility Arrangement, Extension of the Arrangement, And Modification of Performance Criteria (PCs). Program implementation is broadly back on track. After missing the end-2016 fiscal targets by large...

This paper discusses Sao Tome and Principe's Second Review Under the Extended Credit Facility (ECF) and Request for Waivers for Nonobservance of Performance Criteria and modification of performance criteria. The economic outlook for 2017 and the medium term is favorable, but not without risks....

This paper discusses recent economic developments and economic outlook and risks of Sao Tome and Principe. Although Sao Tome and Principe's economic development is constrained by its insularity, fragility, limited resources, and low capacity as a small island state, this African country has made...

This paper discusses the following selected issues related to the Sao Tome and Principe's economy: tourism competitiveness in Sao Tome and Principe-challenges and strategy, macro-financial linkages, private sector development, and challenges of small financial systems. Sao Tome and Principe has...

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...

The purpose of this analysis is to provide a snapshot of exclusion based on SOGI in Sao Tome and Principe (STP) and the opportunities for SOGI inclusion especially in the tourism sector. The main questions for the reader to consider are: Why is the World Bank involved in SOGI? How can STP...

This note examines the competitiveness of the export sector in Sao Tome and Principe. It relies on the framework developed by Reis and Farole (2012) and examines the export competitiveness along four complementary dimensions: export growth and market shares, diversification in terms of product...

The purpose of this background note is to give an overview of the literature on output volatility and economic growth, assess output volatility and its impact in Sao Tome and Principe (STP). This note is organized in four sections, besides this introductory part. The second section reviews the...

The purpose of this paper is to empirically evaluate the tourism performance of STP with respect to the main determinants that have been found in the literature. Tourism is clearly a comparative advantage of STP and already an important economic activity, however, STP is far from the...

The importance of a good regulatory and institutional environment for business creation and growth is well established. Good regulations and a level playing field are particularly important to maximize opportunities for private investment in small island states like Sao Tome and Principe, which...

Economic growth in Sao Tome and Principe (STP) has long been driven by an unsustainable reliance on public expenditures, especially grant- and loan-financed public investment. STP needs to turn its smallness into uniqueness to unlock its growth potential. to accomplish this transformation, this...

EXECUTIVE SUMMARY Context. The coalition government that came into office on December 12, 2012, remains fully committed to the pursuit of sound policies that are helping to consolidate macroeconomic stability, despite a challenging external environment and more uncertain oil prospects. Program...

Executive Summary The first NPRS was drafted in 2002 and the authorities promised to reduce the percentage of the Saotomean population living in poverty (53.8 percent) by half in 2010 and by two-thirds in 2015, and to decrease the percentage of the population living in extreme poverty from 15.1...

This Joint Staff Advisory Note discusses the Poverty Reduction Strategy Paper (PRSP) for the Democratic Republic of Sao Tome and Principe. The PRSP-II is the successor to the government's previous development strategy, the PRSP-I, and furthers the country's commitment to promoting sustainable...