IMF Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with São Tomé and Príncipe
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IMF Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with São Tomé and Príncipe
IMF staff and São Tomé and Príncipe reached a staff-level agreement for a new 40-month Extended Credit Facility (ECF) of about US$20 million (SDR 14.8 million) to support an ambitious reform program. Key aims: restore macroeconomic stability, protect the vulnerable, and lay foundations for faster, more inclusive growth. The program centers on a front-loaded fiscal adjustment to lower public debt under a pegged exchange rate, ending monetary financing of the budget, and tighte
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