Portugal Resident Representative Site
IMF’s Lall Welcomes Portugal’s Remarkable Progress, Urges Completion of Reform Effort
February 18, 2014
As the Executive Board of the International Monetary Fund (IMF) completed the tenth review of Portugal’s performance under the economic program, Subir Lall writes in a blog post that Portugal has made remarkable progress over the past three years and describes the steps needed to complete the reform process. Sustaining efforts to raise the economy’s competitiveness is the only path forward, he says.
News — Highlights
Portugal's Adjustment Program: Where Are We? -- Presentation by IMF Resident Representative Albert Jaeger, Austrian Business Circle, Lisbon
In response to media queries regarding the mission chief for Portugal, the IMF issued the following statement today: Subir Lall, Assistant Director in the IMF European Department and currently mission chief for Germany and the Netherlands, has been appointed mission chief for Portugal.
Portugal and The IMF
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
Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund
Portugal -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, January 27, 2014
January 27, 2014
PDF File Size: 450Kb
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.