Regulatory Alerts2017-10-03
Decree-Law No. 15/2017 Approving the Rules for the Introduction of the New Dobra Family
The Government of São Tomé and Príncipe issues Decree-Law No. 15/2017 to establish the legal framework for introducing the New Dobra Family, mandating a 1:1000 conversion rate, dual price indication, and automatic banking adjustments from October 2017 through a simultaneous circulation period ending June 30, 2018. The decree ensures contractual stability by preserving existing obligations under the new currency rules, defines precise rounding and accounting procedures for financial institutions and state bodies, and outlines the mandatory withdrawal of Current Family currency by December 2019. It further guarantees legal certainty, transparency, and neutrality for economic agents while maintaining the currency's role as a credible store of value and unit of account.