The Democratic Republic Of Sao Tome And Principe

The Democratic Republic of São Tomé and Príncipe Is a small island located by the Gulf of Guinean. It consist of two islands São Tomé and Príncipe. Both are apart of an extinct volcanic mountain. São Tomé is the larger island and was named after Saint Thomas the Portuguese explorer. The Democratic Republic of São Tomé and Príncipe is the second smallest country in Africa in a matter of population. It’s the smallest country in the world that is not occupied by British rule.

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São Tomé and Príncipe Economy was first based on agriculture and Fishing and slavery. Still is but “but slavery” and another source has accrued which is petroleum. By time São Tomé and Príncipe became a very popular tourist attraction.

“The São Toméan Government has traditionally obtained foreign assistance from various donors, including the UN Development Programme, the World Bank, the European Union (EU), Portugal, Taiwan, and the African Development Bank. In April 2000, in association with the Banco Central de São Tomé e Príncipe, the IMF approved a poverty reduction and growth facility for São Tomé aimed at reducing inflation to 3% for 2001, raising ideal growth to 4%, and reducing the fiscal deficit. In late 2000, São Tomé qualified for significant debt reduction under the IMF-World Bank’s Heavily Indebted Poor Countries (HIPC) initiative. The reduction is currently being reevaluated by the IMF, due to the attempted coup d’etat in July 2003 and subsequent emergency spending. Following the truce, the IMF decided to send a mission to São Tomé to evaluate the macroeconomic state of the country. This evaluation is ongoing, reportedly pending oil legislation to determine how the government will manage incoming oil revenues.

Portugal remains one of São Tomé's major trading partners, particularly as a source of imports. Food, manufactured articles, machinery, and transportation equipment are imported primarily from the EU.”

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