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Portugal: Fourth Review Under the Extended Arrangement and Request for a Waiver of Applicability of End-June Performance Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Portugal

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  • International Monetary Fund

Abstract

This paper discusses findings of the fourth review under an Extended Fund Facility Arrangement with Portugal. One year into the program, the authorities are making progress in reducing economic imbalances. The delicate balance between orderly deleveraging and improving competitiveness also remains in place. A turnaround in investor sentiment has nonetheless proved elusive, reflecting the formidable challenges that remain. Bank deposits remain stable and funding continues to be supported by euro system lending. Market sentiment has improved, although spreads remain high and volatile.

Suggested Citation

  • International Monetary Fund, 2012. "Portugal: Fourth Review Under the Extended Arrangement and Request for a Waiver of Applicability of End-June Performance Criteria: Staff Report; Press Release on the Executive Board Discussion; and St," IMF Staff Country Reports 2012/179, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/179
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    1. repec:dau:papers:123456789/14195 is not listed on IDEAS
    2. World Bank, 2013. "Burundi Public Expenditure Review : Strengthening Fiscal Resilience to Promote Government Effectiveness [République du Burundi - Burundi Revue des Dépenses Publiques - Renforcer l’efficacité des po," World Bank Publications - Reports 21283, The World Bank Group.
    3. Denis Cogneau & Kenneth Houngbedji & Sandrine Mesplé-Somps, 2013. "The fall of the elephant. Two decades of poverty increase in Côte d’Ivoire (1988 - 2008)," Post-Print hal-01517394, HAL.
    4. Leandro Medina, 2018. "Assessing Fiscal Risks in Bangladesh," Asian Development Review, MIT Press, vol. 35(1), pages 196-222, March.
    5. Nicolas Véron, 2016. "The IMF’s role in the euro-area crisis- financial sector aspects," Policy Contributions 16213, Bruegel.
    6. Denis Cogneau & Kenneth Houngbedji & Sandrine Mesplé-Somps, 2013. "The fall of the elephant. Two decades of poverty increase in Côte d’Ivoire (1988 - 2008)," Post-Print hal-01517394, HAL.
    7. repec:wbk:wboper:16727 is not listed on IDEAS

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