BALANCE-OF-PAYMENTS PROBLEM • FREE-TRANSLATOR.COM • Definition of Balance-of-payments problem

... increasingly dependent on cocoa since independence 25 years ago. However, cocoa production has substantially declined because of drought and mismanagement. The resulting shortage of cocoa for export has created a persistent balance-of-payments problem. Sao Tome has to import all fuels, most manufactured goods, consumer goods, and a significant amount of food. Over the years, it has been unable to service its external debt and has had to depend on concessional aid and debt rescheduling. Considerable potential exists for development of a tourist ...

— The 2000 CIA World Factbook • United States. Central Intelligence Agency.