Country Economic Memorandum

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http://hdl.handle.net/10986/2184

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Country Economic Memorandum for Sao Tome and Principe - Background Note 4: Update on Oil and Gas Exploration and Production in São Tomé and Príncipe

(World Bank, Washington, DC, 2019-06-26) de Vivies, Patrice

Sao Tomé and Príncipe is surrounded by oil-producing neighbors, but haven’t found commercially viable oil in its territory so far. São Tomé and Príncipe (STP) is surrounded by major oil producing countries including Nigeria, Equatorial Guinea, and Gabon, but there has not been any commercial oil or gas discoveries in the country’s waters yet. STP is exploring for oil in two different zones under different jurisdiction: the Joint Development Zone (JDZ) with Nigeria, and the Exclusive Economic Zone (EEZ). There are talks as well for a joint exploration zone with Equatorial Guinea. The purpose of this note is to update the status of oil and gas exploration in STP and provide a probability and timeline for eventual discoveries and commercial production. The answers to these questions are key to the country’s long-term development prospects, as it would alter dramatically STP’s development path.
Country Economic Memorandum for Sao Tome and Principe - Background Note 10: What are the Obstacles to Agricultural Development in STP? A Review of Current Agriculture Production Structure and Potential

(World Bank, Washington, DC, 2019-06-26) Arias, Diego ; Horton, John ; Valdivia, Pablo

This note presents an analysis of the obstacles and opportunities for STP’s agriculture value chains, assesses the main sector risks, and provides a series of public sector recommendations for increased private sector investment. While the country will remain a net importer of food and agricultural products for the foreseeable future, a series of opportunities exist, some to increase import-substitution, others to expand exports. Given STP’s land constraints and climate variability, importing food will continue to occur in the near to medium-term future to satisfy local demand. However, import-substitution opportunities will continue to offer prospects centered on the feedstuff-livestock chain and the horticultural sector, as well as some additional expansion of the palm oil industry. Export opportunities lie primarily in cocoa products as well as in emerging non-traditional agricultural exports, some strategically linked to tourism, especially eco-tourism already embraced by the government and by high end tourist developments established in the past few years. Analysis of the competitiveness of existing and emerging rural supply chains in STP reveals a series of characteristics that allow to overcome the structural diseconomies of scale of a small island state. These characteristics include among others: (i) high value-to-weight products, (ii) agricultural products that can be taken with tourists, (iii) low perishability and products that can be stored, (iv) climate change resilience; and (v) explore the country’s uniqueness. Value chains that possess some of these key characteristics discerned from the analysis offer private sector opportunities, provided the enabling environment allows them to reach their potential.
Country Economic Memorandum for Sao Tome and Principe - Background Note 12: What is the Potential and Obstacles for the Fisheries Sector in São Tomé and Príncipe?

(World Bank, Washington, DC, 2019-06-26) Serkovic, Mirko ; Million, Julien

The purpose of this note is to give an overview of the fisheries sector in STP, its potential and obstacles, as well some policy recommendations to address these obstacles, ensure sustainable management of these resources and tap into its potential. It is organized in four section, besides this introduction. The second section describes the fishing sector in STP, while the third and the fourth outline the obstacles for the development of the artisanal and industrial fisheries respectively. The last section offers policy recommendations. Fisheries play an important role for the economic and social development of the country, however resources are likely over-exploited. Coastal marine resources are showing signs of full or overexploitation around the Sao Tome island. Before looking at increasing production of coastal resources, knowledge on the status of the fish stock would have to be improved through data collection and research to understand the potential of these resources and adequate sustainable management of these resources would have to be ensure through reinforced legal framework, governance and enforcement, as well as the potential development of co-management1 system between the STP authorities and the fishing communities.
Country Economic Memorandum for Sao Tome and Principe - Background Note 3: Where has Trade Growth Come from in São Tomé and Príncipe

(World Bank, Washington, DC, 2019-06-26) Signoret, Jose E.

This note examines the competitiveness of the export sector in São Tomé and Príncipe. It relies on the framework developed by Reis and Farole (2012) and examines the export competitiveness along four complementary dimensions: export growth and market shares, diversification in terms of product and destinations, quality of exports, and the survival or persistence of export flows. It uses export product level data for the period 2000-2017, as available, from international trade databases that help in benchmarking the performance of São Tomé and Príncipe with that of peer countries. Peer countries include, as data is available, Belize, Cabo Verde, Comoros, Dominica, Fiji, Mauritius, Maldives, Seychelles, St. Lucia and Vanuatu. While this note focuses on export outcomes, it also provides a brief picture on imports into São Tomé and Príncipe. The main findings of this note are as follows: Trade remains important for São Tomé and Príncipe, especially imports to satisfy local demand. Total exports have been increasing, both for goods and services. Goods exports, however, remain highly concentrated in cocoa exports to the EU market. Export trends for goods have tended to sustain this dependence, with very little expansion in the extensive margin, and thus with limited diversification of goods exports. This is despite relative comparative advantages in other agricultural products, such as coconuts, dried fruits, and seafood and preferential duty-free and quota-free access into the EU and other developed countries’ markets. Meanwhile, exports of services have increased rapidly, led by travel services. São Tomé and Príncipe exports more services than goods and it has become a net exporter of services. Creating strong (backward) linkages between the tourist industry and the rest of the economy could sustain growth in other industries that, in turn, can support export diversification.
Country Economic Memorandum for Sao Tome and Principe - Background Note 14: The Case for Economic Inclusion of Sexual and Gender Minorities in São Tomé and Príncipe

(World Bank, Washington, DC, 2019-06-26) Cortez, Clifton John ; Arzinos, John (Ioannis)

The purpose of this analysis is to provide a snapshot of exclusion based on SOGI in São Tomé and Príncipe (STP) and the opportunities for SOGI inclusion especially in the tourism sector. The main questions for the reader to consider are: Why is the World Bank involved in SOGI? How can STP benefit from SOGI inclusion? What can be done to ensure SOGI inclusion in STP? Finally, the central takeaway from this analysis is that excluding sexual and gender minorities negatively impacts economic development and poverty reduction, whereas including them is beneficial to economic development and poverty reduction. The theoretical argument is that exclusion costs money. Exclusion based on sexual orientation and gender identity often begins as early as the primary school years and continues in the workplace, as well as more broadly in the economy and in society. As a result, sexual and gender minorities face significant stigma that prevents them from realizing their productive potential and limits their ability to contribute to the economy and to society. When anyone is excluded from the labor force based on indelible personal characteristics unrelated to ability, such as sexual orientation or gender identity, both the economy and social cohesion suffer.