02180cas a2200241 a 4500 AALejournalIMF018871 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484385005 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Democratic Republic of Sao Tome and Principe : Selected Issues. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (53 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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 effectively foster future growth in STP. Country-specific characteristics as well as weak institutions contributed to STP's relative underperformance since independence. Initial conditions, particularly regarding human capital and natural resources, contributed to STP's relative underperformance, especially in the first decade after independence. Experience in the four island-states suggests that fiscal discipline, revenue mobilization, and a more active private sector, particularly in the tourism sector, may be key to tap STP's growth potential. Fiscal discipline is needed to contain the fiscal deficit and bring the debt to a sustainable level. Continuing to strengthen public financial management, including implementing multiannual fiscal framework as recommended by the IMF technical assistance, would help. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2018/322 Full text available on IMF http://elibrary.imf.org/view/journals/002/2018/322/002.2018.issue-322-en.xml IMF e-Library