São Tomé and Príncipe. According to countryaah, Sao Tome is the capital and one of the major cities within the country of Sao Tome and Principe. The prospect of finding oil under the sea in São Tomé and Príncipe’s territory began to generate large incomes but also social and political problems. Two oil exploration concessions were awarded to an international and Nigerian consortium respectively, giving São Tomé and Príncipe US $ 113 million before even a single drop of oil was found. It is more than what the country would earn for 30 years on its most important export cocoa to date.
- Also see abbreviationfinder.org for how the acronym ST stands for the country of Sao Tome and Principe and other meanings of this two-letter abbreviation.
Revenue from the oil contracts prompted the public employees’ unions to go on strike for the demand for substantial wage increases, which the government did not consider to be able to agree without failing to fulfill their commitments to the International Monetary Fund and the World Bank, thereby jeopardizing the chances of debt amortization. Disagreement between the President and the government on how to handle the strike and oil contracts led to such difficulties in cooperation that Prime Minister Damião Vaz d’Almeida resigned. He was replaced by Governor Maria do Carmo Silveira.
After the return to the government of the Movimiento de Libertação de São Tomé e Príncipe (which had added the wording Partido Social Democratico, MLSTP-PSD to its name in 1990), which won the 1994 political elections, and the appointment as prime minister of C from Graça, the country’s social crisis was exacerbated, on the one hand by the introduction of new austerity measures, and on the other by the dramatic consequences of the collapse in the price of cocoa (one of the country’s fundamental resources).
Foiled (August 1995), also thanks to the mediation of Angola, a military coup, in December 1995 the president M. Trovoada replaced from Graça with A. Vaz d’Almeida, also of the MLSTP-PSD, and in an attempt to give stability in the country was formed in January 1996 an executive of national unity in which, however, the Partido de Convergencia Democratica-Grupo de Reflexao (PCD-GR) decided not to take part. A new government crisis occurred in September 1996, when the majority party withdrew its support for the executive accusing it of inefficiency and corruption, and resulted in the formation of a new majority formed by the PCD-GR and the MLSTP-PSD, whose exponent R. Wagner da Conceiçao Bracança Neto he was appointed prime minister.
In the meantime, relations between the government and the president had become tense and proposals for constitutional revision aimed at limiting the powers of the head of state began to be aired. The clash between Trovoada (who had been reconfirmed in office with 52.7 % of the votes in the elections held in July 1996) and the government took place in the field of international politics. Trovoada’s decision to re-establish diplomatic relations with Taiwan (July 1997) met with opposition from the executive, worried about the financial repercussions that the consequent break with China would entail, and was ratified only in October, after months of heated debate..
In recent years, the internal situation continued to remain difficult, while foreign debt increased and the distress of state employees directly penalized by the public deficit. In March 1998, a general strike by state employees, demanding the payment of overdue salaries, paralyzed the country for three days, and the following month the armed forces also expressed their discontent at the repeatedly promised non-salary increase.
In November 1998, new legislative elections were held. The MLSTP-PSD again secured a majority of the seats (31) against the 16 that went to the Independent Democratic Acçao (ADI), the party of Trovoada, and the 8 won by the PCD. G. Posser da Costa, of the MLSTP-PSD, assumed the post of prime minister. During 1999, relations between president and prime minister remained tense, effectively paralyzing political life.