(2,600 words)
Politically, the year was marked by three consecutive elections, all of them won by President Menezes and his allies. The ‘Movimento de Libertação de São Tomé e Príncipe/Partido Social Democrata’ (MLSTP/PSD), in power since 1994, lost its position as the party of government to the ‘Movimento Democrático Força de Mudança – Partido de Convergência Democrática’ (MDFM-PCD), the party alliance close to the president. Menezes won the presidential elections, but the presidency lost its executive powers at the beginning of his second term. On the economic front, the disappointing results from the first exploratory drilling provoked uncertainty in the oil sector. Production-sharing contracts for three oil blocks awarded in 2005 were signed. However, because of outstanding debts, Nigeria delayed the release of São Tomé's share of signature bonus payments.
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(2,600 words)