Sao Tome and Principe

Sao Tome and Principe (São Tomé e Príncipe) was 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. While independence was achieved in 1975, democratic reforms were not instituted until the late 1980s. The country held its first free elections in 1991, but frequent internal wrangling between the various political parties precipitated repeated changes in leadership and two failed coup attempts in 1995 and 2003. The recent discovery of oil in the Gulf of Guinea promises to attract increased attention to the small island nation.

Economical characteristics

 * Currency: Dobra (ISO code: STD)
 * Central bank discount rate: 16% (31 December 2009)
 * Commercial banks lending rate: 32.4% (31 December 2009 )
 * Stock of money (M1): $27.84 million (31 December 2008)
 * Quasi money (with M1 makes M2): $36.95 million (31 December 2008)

Notable events:

 * Banking crisis: 1991

Links

 * Sao Tome and Principe on Wikipedia
 * Central bank of Sao Tome and Principe
 * BBC country profile