Country Economic Memorandum : Background Note 2 – Economic Growth and Volatility : Is it Sustainable for Sao Tome and Príncipe to have a Large Current Account Deficitand a Fixed Exchange Rate? (English)

Is it sustainable for São Tomé and Príncipe to have a large current account deficit and a fixed exchange rate peg? Sao Tomé and Príncipe (STP) pegs its currency, the dobra, to the euro and has both persistent current account deficits and a persistent inflation differential with the Euro Area. In other countries, these characteristics have proved to be unsustainable over time, as rising debt and a worsening trade imbalance leads to the abandonment...
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DETAILS

  • Arteta,Carlos;
    Kirby,Patrick Alexander;

  • 2019/06/26

  • Country Economic Memorandum

  • 139085

  • 1

  • 1

  • Sao Tome and Principe,

  • Eastern and Southern Africa,

  • 2019/07/12

  • Disclosed

  • Country Economic Memorandum : Background Note 2 – Economic Growth and Volatility : Is it Sustainable for Sao Tome and Príncipe to have a Large Current Account Deficitand a Fixed Exchange Rate?

  • current account deficit

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Citation

Arteta,Carlos; Kirby,Patrick Alexander.

Country Economic Memorandum : Background Note 2 – Economic Growth and Volatility : Is it Sustainable for Sao Tome and Príncipe to have a Large Current Account Deficitand a Fixed Exchange Rate? (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/751241562907012780

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