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Sao Tome and Principe

Yearbook 2012

São Tomé and Príncipe. According to countryaah, the protests on the island of Príncipe, which had begun in December 2011, continued in early 2012. The ruling party in the independent province of Príncipe, Union for Change and Progress in Príncipe (UMPP), in January, invited residents to participate in a demonstration against the central government. The reason for the Principe residents' anger was that the central government did not want to approve an investment agreement that would benefit Príncipe. A foreign company wanted to make major investments in the tourism industry on Príncipe, but the central government on the main island of São Tomé questioned whether the small island had the right to decide on this issue itself. The standard of living is lower on Príncipe than on São Tomé and there has always been some rivalry between the islands.

2012 Sao Tome and Principe Business

In June, the opposition party elected the Freedom Movement for São Tomé and the Príncipe - Social Democratic Party (MLSTP - PSD) Jorge Amado, who was the country's ambassador to Taiwan, as new party leader. Amado succeeded Aurélio Martins, who was forced to quit after his poor results in the 2011 presidential election.

In July, the International Monetary Fund (IMF) approved a new three-year loan program for São Tomé and Príncipe. The loan was intended to maintain the country's macroeconomic stability and to accelerate structural reforms prior to the start of the country's oil production in 2015.

At the end of November, several opposition parties in Parliament initiated a vote of no confidence in the minority government led by Prime Minister Patrice Trovoada. He lost the vote and was dismissed in December by President Manuel Pinto da Costa. The president appointed Gabriel Arcanjo Ferreira da Costa as new prime minister and head of government.

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