Sao Tome and Principe

The economic growth of Sao Tome and Principe fell to 4 percent in 2009 from its 6 percent average in the last five years, according to an International Monetary Fund mission that visited the country from May 7 to May 20. The economic slump was a result of the decline of official grants and foreign direct investments in the country. The decline significantly affected trade and construction activities, the IMF mission said. The team added that the level of foreign direct investments in the country is not expected to rebound in the near term.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.