Portugal: Tenth Review Under the Extended Arrangement and Request for Waivers of Applicability of end-December Performance Criteria

Publication Date: February 19, 2014
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Summary: This paper discusses Portugal’s Tenth Review Under the Extended Arrangement. The short-term outlook has improved and program implementation remains on track, notwithstanding another adverse Constitutional Court ruling. Stronger domestic demand is supporting a pick-up in activity and lower unemployment. The end-September 2013 quantitative performance criteria (PCs) were met, and preliminary estimates suggest that the end-December 2013 targets were also met. Risks to attaining the objectives of the program remain high. IMF Staff supports the authorities’ request for completion of the tenth review and for waivers of applicability of the end-December PCs.
Series: Country Report No. 14/56
Subject(s): Extended arrangement reviews | Fiscal consolidation | Fiscal reforms | Economic growth | Global competitiveness | Banks | Financial stability | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Performance criteria waivers | Portugal

Publication Date: February 19, 2014
ISBN/ISSN: 9781484307731/1934-7685 Format: Paper
Stock No: 1PRTEA2014001 Pages: 94
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