The three year Fund-supported program that expired at end-June 2014 succeeded in stabilizing Portugal's economy and …

public and corporate sectors, and high external debt. Portugal is benefiting from favorable cyclical tailwinds, but growth is …

unemployment. A broad-based recovery in sentiment has led to a decline in yields, allowing Portugal to issue a 5-year bond on … the Constitutional Court struck down an important pension measure contained in the 2014 budget. Portugal continues to … corporate indebtedness will continue to act as a brake on both consumption and investment. Portugal’s public debt and external …

balanced, Portugal still faces important challenges. The authorities have built a strong track record of program implementation …

Mounting funding pressures has tipped Portugal into an acute economic crisis in 2011. The roots of the crisis could be … traced to Portugal’s failure to adapt to the rigors of monetary union. With economic institutions, policies, and incentives … ill-adapted to the opportunities, Portugal’s external stability risks also rose gradually. However, the current account …

September 11, 2012, with the officials of Portugal on economic developments and policies. Based on information available at the …

This paper presents Portugal’s third review under the extended arrangement and request for waiver of applicability of …

Portugal’s economic adjustment has continued, but the contraction in output has been milder than expected. The 2012 …