Sao tome & principe today!

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Sao tome & principe today!

Elections in 2001 brought Fradique de Menezes to power. De Menezes pledged to use revenues from increased tourism and exploitation of the country’s newly discovered offshore oilfields to improve the standard of living and modernise the islands’ infrastructure. Grand changes seemed imminent.

But complications with extracting the oil in addition to possible overestimations of the oil deposits have delayed economic progress, and there is a palpable growing restlessness in the deeply indebted and impoverished nation. A brief and bloodless coup attempt was peacefully resolved in 2003 while the president was out of the country. De Menezes was re-elected in 2006 in internationally observed, peaceful elections. Learn more information about essay and Write my paper!

Sao Tome presently scrapes by on US$25 million a year of foreign aid and US$5 million in cocoa exports.