2024-12-14 22:08:00
“AND It is indeed with deep pride and a sense of obligation that today we share an crucial milestone in the journey of São Tomé and Príncipe, namely the transition of our country from the group of least developed countries to the status of middle-income country.It is recognition of the progress we have made over the years, the result of the collective effort of all Saoméans and the strong partnerships we have cultivated with the international community,” said Patrice Trovoada.
“This moment is historic for all of us, it is indeed the moment when our country has achieved the internationally defined indicators and objectives so that we can no longer be considered a less advanced country,” added the head of the Sao government Tomé, stating that he sees “this degree realistically” and underlining that “there is still a lot to do”.
For Patrice Trovoada, “any progress, small or large, symbolizes the work, progress and dedication of an entire nation and demonstrates progress, even if still very modest.”
“However, we must not stay in our comfort zone. We must continue to work,reform,organize and plan,” he said.
The Prime Minister of São Tomé stated that “this change of category represents, above all, the resilience of a people who, despite the limits and challenges, have never lost hope of building a closer future”.
“This new milestone requires prudence, coherence and strategy on our part. The transition to the status of a middle-income country, although it is a sign of progress, also brings with it new responsibilities and challenges that we must face with maturity and determination”, he said the head of the government of São Tomé.
Patrice Trovoada underlined that the country will have “less access to traditional and subsidized support,which until now was common”,which means having to ”face new forms of financing,creative,lasting,more available to attract investments,compete with other economies” and finance development “without compromising economic and social stability”.
“By prioritizing environmental protection and economic diversification, strengthening public-private partnerships in strategic sectors such as technology, tourism, the blue economy, renewable energy and human capital, we will surely build a solid foundation for growth sustainable and resilient.”
Trovoada stated that “this new statute must be a step forward in reducing the inequalities that still persist”, underlining that “improvements in macroeconomic indicators, in themselves, are meaningless if they cannot translate into greater social justice and concrete benefits for all São Toméans, especially for the most vulnerable communities”.
“Success in the new context will depend on our ability to manage resources with transparency, effectiveness and responsibility. Solid and stable governance, characterized by wise choices and strategic vision, will be the basis for guaranteeing the trust of people and international partners”, said Patrice Trovaada.
On Friday, the UN announced that “São Tomé and Príncipe has officially ceased to be part of the category of least developed countries”, underlining that this milestone marks “a significant achievement in the development journey”.
According to a publication on the United Nations website, the proclamation was made in New York by the Office of the High Representative for Least Developed Countries, landlocked Developing Countries and Small Island Developing States.
The UN entity recognizes the ”constant efforts of the Sao Tomé authorities to achieve solid economic growth, strengthen human development and improve resilience against vulnerabilities,” the publication reads.
The advice for São Tomé and Príncipe to graduate came after criteria based on per capita income, human resources and economic and environmental vulnerability indices were met, highlighting the expansion of universal health coverage from 47% in 2010 to 59 % by 2021 and ranking 11th out of 54 African nations in the 2021 Ibrahim African Governance Index.
according to the UN, “current obstacles to São Tomé’s economy include fiscal difficulties, marked by inflation that has reached 17% in 2023” and also “the increase in public debt”.
São Tomé and Príncipe’s transition to a middle-income country comes as the archipelago continues without a sustained credit agreement with the International monetary Fund (IMF), despite the technical agreement announced in November after two years of negotiations .
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How is the goverment of São Tomé adn Príncipe addressing social inequalities as it moves towards enduring development?
Interview between Time.news Editor and Patrice Trovoada,Prime Minister of São Tomé and Príncipe
Time.news Editor: Good day, Prime Minister Trovoada. Thank you for joining us today to discuss this meaningful milestone for São Tomé and Príncipe. Transitioning to a middle-income country is no small feat.How does it feel to reach this crucial point in your nation’s journey?
Patrice Trovoada: Thank you for having me. It is indeed a moment filled with pride and responsibility for us as a nation. Achieving the status of a middle-income country represents years of hard work and resilience from all São Toméans, as well as the valuable partnerships we’ve established with our allies in the international community.
Time.news editor: That’s truly commendable! You mentioned the collective effort of São Toméans. Can you elaborate on how this journey has brought the nation together?
Patrice Trovoada: Absolutely.This transition has been a unifying experience for us. Every step we take forward is a testament to the dedication of our citizens,who continue to strive for progress in their respective fields,be it in agriculture,education,or tourism. This journey has fostered a sense of camaraderie and shared purpose, which is vital as we continue our development.
Time.news Editor: While this achievement is significant, you also noted that there’s “still a lot to do.” What are the immediate priorities for São Tomé and Príncipe as you move forward?
Patrice Trovoada: We must stay vigilant and never let our guard down.Continued reform is essential—this includes enhancing our infrastructure, investing in education, and leveraging our natural resources sustainably. Education, especially, plays a critical role in equipping our youth with the skills necessary to drive future progress.
Time.news Editor: Transitioning from least developed to middle-income status often comes with new challenges. What do you foresee as the biggest hurdles in this next phase of development?
Patrice Trovoada: Economic diversification is a key challenge. We need to move away from relying solely on a few industries by fostering entrepreneurship and attracting foreign investment. Additionally, we must address social inequalities to ensure that the benefits of our growth are felt across all sectors of society.
Time.news Editor: That sounds like a balanced plan. Lastly, how do you envision São Tomé and príncipe in the next decade given these reforms and ongoing efforts?
Patrice Trovoada: I see São Tomé and Príncipe becoming a beacon of sustainable development in the region—a country that not only maintains its cultural identity but also offers opportunities for all its citizens. Our aim is to harness our unique resources, including our rich biodiversity, to attract tourism and green investments, ultimately establishing a more resilient economy.
Time.news Editor: It’s inspiring to hear your vision, prime Minister. Thank you for sharing these insights. We look forward to seeing how São Tomé and Príncipe evolves in the coming years.
Patrice Trovoada: Thank you for having me. With the dedication of our people and the support of the international community, I am confident we can achieve our goals.
