Portugal Resident Representative Site
Statement by the EC, ECB, and IMF on the Eleventh Review Mission to Portugal
February 28, 2014
Staff teams from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) visited Lisbon during February 20-28 for the eleventh quarterly review of Portugal’s economic adjustment program. Read the press statement.
News — Highlights
Portugal’s Quest for Prosperity without Repeated Crises -- Remarks by Poul Thomsen, Deputy Director, IMF European Department, Journal de Negócios Conference
Portugal's Adjustment Program: Where Are We? -- Presentation by IMF Resident Representative Albert Jaeger, Austrian Business Circle, Lisbon
Portugal and The IMF
Press Release: IMF Completes Eleventh Review Under an EFF Arrangement with Portugal, Approves €851 Million Disbursement
Portugal: Tenth Review Under the Extended Arrangement and Request for Waivers of Applicability of end-December Performance Criteria
February 19, 2014
Series: Country Report No. 14/56
Press Release: IMF Completes Tenth Review Under an EFF Arrangement with Portugal, Approves €0.91 Billion Disbursement
Portugal and the IMF
- Member since March 29, 1961
- Quota: SDR1029.7 million (equivalent to €1144million, US$1,635 million at current exchange rates)
Each member country of the IMF is assigned a quota, based broadly on its relative position in the world economy. A member country's quota determines its maximum financial commitment to the IMF, its voting power, and has a bearing on its access to IMF financing.
- Portugal is represented in the Executive Board of the IMF in a group of countries led by Italy and also includes Albania, Greece, Malta, San Marino, and Timor-Leste.
The Executive Board is responsible for conducting the day-to-day business of the IMF. It is composed of 24 Directors, who are appointed or elected by member countries or by groups of countries. The Managing Director serves as its Chairman. The Board usually meets several times each week. It carries out its work largely on the basis of papers prepared by IMF management and staff.
- In addition to quota resources, Banco de Portugal has contributed to the New Arrangement to Borrow with a credit line of up to SDR 1542.13 million.