Sao Tome and Principe: Overview
The Sao Tomeans were one of the first African to embrace democratization in the early 1990?s. A multi-party democracy has been successfully established. Following a short-lived coup in 2003, political stability has been restored.
Following independence in 1975 the economy was hit by the decline of world cocoa prices. The government was forced to undertake serious economic reform. Fortunately, foreign donors helped, and the launching of oil exploration in the Gulf of Guinea has recently raised hopes.