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.

Author/Editor:

International Monetary Fund

Publication Date:

July 17, 2012

Electronic Access:

Free Full Text (PDF file size is 1786 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Country Report No. 12/179

Subject:

English

Publication Date:

July 17, 2012

ISBN/ISSN:

9781475506259/1934-7685

Stock No:

1PRTEA2012002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

118

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