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SAO Tome and Principe

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Background

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. The first free elections were held in 1991.

This small poor island economy has become increasingly dependent on cocoa since independence 26 years ago. However, cocoa production has substantially declined because of drought and mismanagement. The resulting shortage of cocoa for export has created a persistent balance-of-payments problem. Sao Tome has to import all fuels, most manufactured goods, consumer goods, and a substantial amount of food. Over the years, it has been unable to service its external debt and has had to depend 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. Sao Tome's success in implementing structural reforms has been rewarded by international donors, who have pledged increased assistance in 2001. 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 also optimistic that substantial petroleum discoveries are forthcoming in its territorial waters in the oil-rich waters of the Gulf of Guinea. Corruption scandals continue to weaken the economy.

Holidays

Jan 1 - New Year's Day
Feb 3 - Heroes' (Martyrs) Day
May 1 - Labour Day
Jul 12 - Independence Day
Sep 6 - Armed Forces Day
Sep 30 - Agricultural Reform Day
Nov 26 - Argel Accord Day
Dec 21 - Sao Tome Day (Catholic)
Dec 25 - Christmas Day, Family Day

Phone Codes

Country Code: 239

Resources

Market Research

CIA - The World Factbook - Democratic Republic of Sao Tome and Principe
This website indicates a wide range of detail information about Sao Tome and Principe by introducing under 8 different fields as its geography,people, government, economy, communications, transportation, military, transnational issues.

About Sao Tome and Principe
There is available to find out Sao Tome and Principe's general outlook on the issues of its social and business profile, passport/visa, money, accomodation, government, duty free, health and so forth.

Sao Tome and Principe Business
Mbendi serves as business oriented directory providing an ultimate African Business Source for the potential investors seeking new business opportunities in Sao Tome and Principe including the list of industries for Sao Tome and Principe.

Business in Sao Tome and Principe
This website provides an extensive information gateway for Sao Tome and Principe in terms of doing business with Sao Tome and Principe, legal guides to establishing business in Sao Tome and Principe and so forth.

Business & Politics in Sao Tome and Principe
This website represents a comprehensive analysis on Sao Tome and Principe's business, economy & politics.

Tourism in Sao Tome and Principe
It is the official Sao Tome and Principe tourist site that makes available to research tourism opportunities in Sao Tome and Principe.

US Department of State: Background Notes for Sao Tome and Principe
Us Commercial service provides a wide range of information about Sao Tome and Principe

Trade Information

The Government of Sao Tome and Principe
It displays the structure of Sao Tome and Principe's government by looking at its political units, branches, ministries, embassies and so forth in details.

Embassy Listings For Sao Tome and Principe
There are listed the embassies of the democratic republic of Sao Tome and Principe including the embassies' contact information.

 
 
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