News & Analysis: Sao Tome and Principe

African Fiscal Vulnerabilities: Effects of 2020 Global Support Initiatives

“Fiscal vulnerabilities among African sovereigns had been building up in the years leading to 2020’s pandemic, driven by challenging economic conditions; unfavourable changes in exchange rates and commodity prices; in addition to significant borrowing, including loans from China, which today is Africa’s largest bilateral lender, alongside greater bond issuance.”

via Scope Ratings

African Development Fund approves UA100.4 million multi-country COVID-19 Response Support for Malawi, Madagascar, Mozambique and Sao Tome

“The Board of Directors of the African Development Fund on Wednesday approved a UA100.4 million (about $138 million) crisis budget support package to four southern African countries – Malawi, Madagascar, Mozambique and São Tomé & Príncipe, in the wake of the COVID-19 pandemic.”

via AfDB

Post-coronavirus: More sorrow for Africa’s new oil and gas producers

“For new producers in the pandemic era, some licensing rounds are likely to be cancelled, and production is being pushed back once more. Debt is becoming an even greater issue. Yet some investors—like Total in Uganda—still show signs of interest.”

via The Africa Report

Living with the virus

“But cautious optimism should be the watchword – some experts claim that the disease is secretly coiling its way through African societies and that when it raises itself to its full dreadful height, a nightmare could ensue.”

via New African Magazine

IMF Executive Board Approves a US$12 Million Disbursement to São Tomé and Príncipe to Address the COVID-19 Pandemic

“The Executive Board of the International Monetary Fund today approved a disbursement of SDR 9.028 million (about US$12.29 million or 61 percent of its SDR quota) for São Tomé and Príncipe under the Rapid Credit Facility (RCF). The financing provided under the RCF will help address Sao Tome and Principe’s urgent external and fiscal financing needs as a result of the outbreak of the COVID-19 pandemic.”

via IMF

IMF Executive Board Approves Immediate Debt Relief for 25 Countries

“Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.”

via IMF

Innovations Needed to Prevent COVID-19 from Catching Fire in Africa’s Cities

” COVID-19 spreads at close range through respiratory droplets. Consequently, the most serious outbreaks of the pandemic have been seen in dense settings and close-knit social networks. With household and core urban densities among the world’s highest, African cities have the potential to serve as deadly incubators for the virus’s spread.”

via Africa Center for Strategic Studies

Sao Tome and Principe to Boost Preparedness for COVID-19

“The World Bank has approved a $2.5 million International Development Association (IDA) grant to assist the government of Sao Tome and Principe in responding to the threat posed by the COVID-19 pandemic.”

via World Bank