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The three year Fund-supported program that expired at end-June 2014 succeeded in stabilizing Portugal’s economy and restoring access to sovereign debt markets. Following the deep downturn of 2011–12, the economy has expanded in six of the last seven quarters, albeit at a moderate...
Persistent link: https://www.econbiz.de/10011244546
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...
Persistent link: https://www.econbiz.de/10011245368
Mounting funding pressures has tipped Portugal into an acute economic crisis in 2011. The roots of the crisis could be …
Persistent link: https://www.econbiz.de/10011245713
Portugal’s economy is in deep recession, and the crisis has opened up a large output gap, with severe consequences for employment and government revenue. While the focus is on the medium- and long-term, this analysis also offers insights on how deep the output gap is. It also highlights...
Persistent link: https://www.econbiz.de/10011242590
Portugal's program implementation is on track despite difficult economic conditions and significant legal challenges …
Persistent link: https://www.econbiz.de/10011242946
This paper discusses Portugal’s Eighth and Ninth Reviews Under the Extended Arrangement and Request for Waivers of Applicability of end-September Performance Criteria (PC). Program implementation has remained broadly on track, in spite of a political crisis and significant legal...
Persistent link: https://www.econbiz.de/10011243135
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Persistent link: https://www.econbiz.de/10011243335
This Eleventh Review Under the Extended Arrangement and Request for Extension of the Arrangement focuses on Portugal’s macroeconomic framework and fiscal policy. Sovereign bond yields have declined sharply, buoyed by the improved economic outlook and increased investor appetite for higher...
Persistent link: https://www.econbiz.de/10011243430
EXECUTIVE SUMMARY Portugal’s practices meet most of the principles of the revised Fiscal Transparency Code at good or advanced levels. A number of areas still present practices at a basic level, but in most of these cases this reflects reforms that have recently been launched and have not...
Persistent link: https://www.econbiz.de/10011243514
September 11, 2012, with the officials of Portugal on economic developments and policies. Based on information available at the …
Persistent link: https://www.econbiz.de/10011243945