Portugal: First Review Under the Extended Arrangement

September 13, 2011

Preview Citation

Format: Chicago

Portugal: First Review Under the Extended Arrangement, (USA: International Monetary Fund, 2011) accessed November 21, 2024

Summary

Macroeconomic imbalances are large, and structural problems are deep-rooted in Portugal. The new government’s strong commitment to program implementation is encouraging. Fiscal performance so far demonstrates the need to refocus the fiscal strategy on strong expenditure control, as envisaged under the program. To support activity, it is crucial to prevent an excessively rapid deleveraging of the banking sector. Ultimately, the success of the program hinges on opening up the economy and improving competitiveness. The European Council’s renewed support enhances prospects for the program’s success.

Subject: Banking, Credit, Expenditure, Fiscal risks, Money, Public debt, Public financial management (PFM), Revenue administration

Keywords: Capital plan, CR, Credit, Fast-track Emergency Financing Mechanism procedure, Fiscal risks, Global, Government, ISCR, Plan, Portugal's IMF quota, Ruling government, SDR, Social security system

Publication Details

Pages:

111
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/279
Stock No:

1PRTEA2011002
ISBN:

9781463902971
ISSN:

1934-7685

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