Sao Tome and Principe Location:
0°20'N, 6°44'E
Sao Tome and Principe Geography:
The islands of São Tomé and Príncipe, situated in the equatorial Atlantic about 300 and 250 kilometers (200 and 150 miles), respectively, off the northwest coast of Gabon, constitute Africa's smallest country. Both are part of the Cameroon volcanic mountain line, which also includes the islands of Annobón to the southwest, Bioko to the northeast (both part of Equatorial Guinea), and Mount Cameroon on the African west coast. São Tomé is 50 kilometers (31 miles) long and 32 kilometers (20 miles) wide and the more mountainous of the two islands. Its peaks reach 2,024 meters (6,640 feet). Príncipe is about 30 kilometers (19 miles) long and 6 kilometers (4 miles) wide. Swift streams radiating down the mountains through lush forest and cropland to the sea cross both islands.
At sea level, the climate is tropical—hot and humid with average yearly temperatures of about 27°C (80°F) and little daily variation. At the interior's higher altitudes, the average yearly temperature is 20°C (68°F), and nights are generally cool. Annual rainfall varies from 5 m (200 inches) on the southwestern slopes to 1 m (40 in) in the northern lowlands. The rainy season runs from October to May.
The island of São Tomé is 32 by 48 kilometers (20 by 30 miles) in size and the more mountainous of the two islands. The capital, also named São Tomé, lies on this island.
The island of Príncipe is 6 by 16 kilometers (4 by 10 miles) in size.
The equator lies immediately south of São Tomé Island, passing through or near the islet named Ilhéu das Rolas.
Sao Tome and Principe People:
Population
- 2005 estimate 157,000 (188th)
- Density 171 /km2 (65th)
454 /sq mi
Sao Tome and Principe Government:
Government Republic
- President Fradique de Menezes
- Prime Minister Tomé Vera Cruz
Sao Tome and Principe Economy:
Since the 1800s, the economy of São Tomé and Príncipe has been based on plantation agriculture. At the time of independence, Portuguese-owned plantations occupied 90% of the cultivated area. After independence, control of these plantations passed to various state-owned agricultural enterprises, which have since been privatized. The dominant crop on São Tomé is cocoa, representing about 95% of exports. Other export crops include copra, palm kernels, and coffee.
Domestic food-crop production is inadequate to meet local consumption, so the country imports some of its food. Efforts have been made by the government in recent years to expand food production, and several projects have been undertaken, largely financed by foreign donors.
Other than agriculture, the main economic activities are fishing and a small industrial sector engaged in processing local agricultural products and producing a few basic consumer goods. The scenic islands have potential for tourism, and the government is attempting to improve its rudimentary tourist industry infrastructure. The government sector accounts for about 11% of employment.
Following independence, the country had a centrally directed economy with most means of production owned and controlled by the state. The original constitution guaranteed a “mixed economy,” with privately owned cooperatives combined with publicly owned property and means of production. In the 1980s and 1990s, the economy of São Tomé encountered major difficulties. Economic growth stagnated, and cocoa exports dropped in both value and volume, creating large balance-of-payments deficits. Efforts to redistribute plantation land resulted in decreased cocoa production. At the same time, the international price of cocoa slumped.
In response to its economic downturn, the government undertook a series of far-reaching economic reforms. In 1987, the government implemented an International Monetary Fund (IMF) structural adjustment program, and invited greater private participation in management of the parastatals, as well as in the agricultural, commercial, banking, and tourism sectors. The focus of economic reform since the early 1990s has been widespread privatization, especially of the state-run agricultural and industrial sectors.
The São Toméan Government has traditionally obtained foreign assistance from various donors, including the UN Development Programme, the World Bank, the European Union (EU), Portugal, Taiwan, and the African Development Bank. In April 2000, in association with the central bank, the Banco National São Tomé e Príncipe, the IMF approved a poverty reduction and growth facility for São Tomé aimed at reducing inflation to 3% for 2001, raising ideal growth to 4%, and reducing the fiscal deficit. In late 2000, São Tomé qualified for significant debt reduction under the IMF-World Bank’s heavily indebted poor countries (HIPC) initiative. The reduction is currently being reevaluated by the IMF, due to the attempted coup d’etat in July 2003 and subsequent emergency spending. Following the truce, the IMF decided to send a mission to São Tomé to evaluate the macroeconomic state of the country. This evaluation is ongoing, reportedly pending oil legislation to determine how the government will manage incoming oil revenues.
In 2001, São Tomé and Nigeria reached agreement on joint exploration for petroleum in waters claimed by the two countries of the Niger Delta geologic province. After a lengthy series of negotiations, in April 2003 the joint development zone (JDZ) was opened for bids by international oil firms. The JDZ was divided into 9 blocks; the winning bids for block one, ChevronTexaco, ExxonMobil, and the Norwegian firm Equity Energy, were announced in April 2004, with São Tomé to take in 40% of the $123 million bid, and Nigeria the other 60%. Bids on other blocks were still under consideration in October 2004. São Tomé stands to gain significant revenue both from the bidding process and from follow-on production, should reserves in the area match expectations.
Portugal remains one of São Tomé's major trading partners, particularly as a source of imports. Food, manufactured articles, machinery, and transportation equipment are imported primarily from the EU
Sao Tome and Principe More Information:
http://en.wikipedia.org/wiki/Sao_Tome_and_Principe |
