Sao Tome, Dec. 4, 2025 (Lusa) - The new governor of the Central Bank of Sao Tome and Principe, Agostinho Fernandes, promised to "restore the credibility and reputation" of the institution and make it stronger, more respected and better prepared for the challenges of the future.
"We are living in uncertain times. The global economy remains highly unpredictable, concessional financing has become more selective, climate risks are intensifying, and small, open economies like ours face external vulnerabilities that require constant vigilance and prudent policies," said Agostinho Fernandes, who took office on Wednesday.
The new governor argues that "in a context where inflation has shown resistance, where credit to the economy lacks quality and international reserves require meticulous management to ensure the maintenance of exchange rate parity with the euro, São Tomé and Príncipe needs a competent, independent and predictable Central Bank".
The former São Toméan minister of the economy defined his objectives as "strengthening the anchoring of monetary policy, preserving the credibility of the exchange rate parity and promoting low and stable inflation, and consolidating the supervision of the financial system".
He also pointed to the prudent management of international reserves, "ensuring adequate liquidity and reducing external vulnerabilities, and technologically modernising payment systems, expanding financial inclusion, increasing efficiency and protecting the emerging digital ecosystem".
Agostinho Fernandes stressed that his leadership vision aims to transform the Central Bank "into an institution recognised for its competence and technical independence, its moral integrity and its social utility" and that "communicates clearly, decides on the basis of evidence, fulfils its mission and inspires confidence" both within and beyond its borders.
The Governor of the Central Bank specified that his term of office will be guided by four principles, which he considered non-negotiable, namely technical independence, ensuring that "no decision by the Central Bank will be influenced by external pressures, but only by data, analysis and principles of prudence".
He also promised transparency and communication, ensuring that "the Central Bank will speak clearly, explain its decisions and reinforce the predictability of monetary policy" and responsibility and public ethics, so that "the laws, rules of conduct, incompatibility and integrity will be observed in an exemplary manner, from top to bottom".
The fourth principle defined by Agostinho Fernandes is the enhancement of human capital, "the Central Bank's greatest asset", promising to invest "in training, cultural transformation through a change in mentality, meritocracy and working conditions that favour excellence".
Fernandes assured "our willingness for loyal and responsible institutional cooperation with the Government," the parliament and international partners, "always respecting the separation between fiscal policy and monetary policy, an essential pillar for the credibility of the Central Bank."
Prime minister Américo Ramos, who was Governor of the Central Bank until he took office in January, welcomed the new members of the Central Bank's management and assured that the Government "will be available to collaborate, work together and enable São Tomé and Príncipe to perform well in its economic and financial policy".
The prime minister said that the members of the non-executive committee should take office shortly, after the approval of the new proposal that the Government submitted to Parliament.
JYAF/AYLS // AYLS
Lusa
