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

Publication Date: April 05, 2012
Electronic Access: Free Full text (PDF file size is 2,061KB).
Use the free Adobe Acrobat Reader to view this PDF file

Summary: This paper presents Portugal’s third review under the extended arrangement and request for waiver of applicability of end-March performance criteria. The government has initiated labor market reforms, privatizations, telecom sector liberalization, and improved competition framework. Competitiveness indicators are showing some signs of improvement with wages declining in some sectors and a sizable improvement in the current account deficit in 2011. Although the banking system continues to be heavily reliant on euro system funding, the required adjustment in banks’ balance sheets has started.
Series: Country Report No. 12/77
Subject(s): Debt sustainability analysis | Economic growth | Extended arrangement reviews | Financial sector | Fiscal consolidation | Fiscal reforms | Global competitiveness | Performance criteria waivers | Staff Reports

Publication Date: April 05, 2012
ISBN/ISSN: 9781475503067/1934-7685 Format: Paper
Stock No: 1PRTEA2012001 Pages: 129
US$18.00 (Academic Rate:
US$18.00 )
Please address any questions about this title to publications@imf.org