Sao Tome and Principe
Official Country Name
Sao Tome and Principe
Sao Tome and Principe Overview
Discovered and claimed by Portugal in the late 15th century, the islands' sugar-based economy gave way to coffee and cocoa in the 19th century - all grown with plantation slave labor, a form of which lingered into the 20th century. Although independence was achieved in 1975, democratic reforms were not instituted until the late 1980s. Though the first free elections were held in 1991, the political environment has been one of continued instability with frequent changes in leadership and coup attempts in 1995 and 2003. The recent discovery of oil in the Gulf of Guinea is likely to have a significant impact on the country's economy.
Sao Tome and Principe Economy
This small, poor island economy has become increasingly dependent on cocoa since independence in 1975. Cocoa production has substantially declined in recent years because of drought and mismanagement, but strengthening prices helped boost export earnings in 2003. Sao Tome has to import all fuels, most manufactured goods, consumer goods, and a substantial amount of food. Over the years, it has had difficulty servicing its external debt and has relied heavily on concessional aid and debt rescheduling. Sao Tome benefited from $200 million in debt relief in December 2000 under the Highly Indebted Poor Countries (HIPC) program, which helped bring down the country's $300 million debt burden. In August 2005, Sao Tome signed on to a new 3-year IMF Poverty Reduction and Growth Facility (PRGF) program worth $4.3 million. Considerable potential exists for development of a tourist industry, and the government has taken steps to expand facilities in recent years. The government also has attempted to reduce price controls and subsidies. Sao Tome is optimistic about the development of petroleum resources in its territorial waters in the oil-rich Gulf of Guinea, which are being jointly developed in a 60-40 split with Nigeria. The first production licenses were sold in 2004, though a dispute over licensing with Nigeria delayed Sao Tome's receipt of more than $20 million in signing bonuses for almost a year. Real GDP growth exceeded 4% in 2006, as a result of increases in public expenditures and oil-related capital investment.
Sao Tome and Principe Location
Sao Tome and Principe is located in Western Africa, islands in the Gulf of Guinea, straddling the Equator, west of Gabon
Region
Sao Tome and Principe is located in Africa
Sao Tome and Principe Population
Sao Tome and Principe has population of 193,413 (July 2006 est.)
Sao Tome and Principe Climate
Sao Tome and Principe has tropical; hot, humid; one rainy season (October to May)
Sao Tome and Principe Terrain
volcanic, mountainous
Sao Tome and Principe Natural Resources
fish, hydropower
Ethnic Groups in Sao Tome and Principe
Sao Tome and Principe has the following ethnic groups - mestico, angolares (descendants of Angolan slaves), forros (descendants of freed slaves), servicais (contract laborers from Angola, Mozambique, and Cape Verde), tongas (children of servicais born on the islands), Europeans (primarily Portuguese)
Sao Tome and Principe Religions
Catholic 70.3%, Evangelical 3.4%, New Apostolic 2%, Adventist 1.8%, other 3.1%, none 19.4% (2001 census)
Sao Tome and Principe Languages
Portuguese (official)
Sao Tome and Principe Capital
Sao Tome and Principe capital is Sao Tome
Sao Tome and Principe Currency
Sao Tome and Principe currency is dobra
Map of Sao Tome and Principe
