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

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Contributor:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2012/179

IMF Staff Country Reports

Language:

English

Subjects (All):

Fiscal policy--Portugal.

Fiscal policy.

Economic indicators--Portugal.

Economic indicators.

Physical Description:

1 online resource (120 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2012.

Language Note:

English

Summary:

This paper discusses findings of the fourth review under an Extended Fund Facility Arrangement with Portugal. One year into the program, the authorities are making progress in reducing economic imbalances. The delicate balance between orderly deleveraging and improving competitiveness also remains in place. A turnaround in investor sentiment has nonetheless proved elusive, reflecting the formidable challenges that remain. Bank deposits remain stable and funding continues to be supported by euro system lending. Market sentiment has improved, although spreads remain high and volatile.

Contents:

""Cover""; ""Contents""; ""I. Background""; ""II. Recent Developments""; ""III. Outlook and Risks""; ""IV. Policy Discussions""; ""A. Fiscal Policy""; ""B. Safeguarding Financial Stability""; ""C. Structural Reform: Growth and Employment""; ""D. Program Financing""; ""V. Staff Appraisal""; ""Tables""; ""1. Selected Economic Indicators � Program Baseline""; ""2a. General Government Accounts, in Billions of Euros""; ""2b. General Government Accounts, in Percent of GDP""; ""3. General Government Stock Positions""; ""4. General Government Financing Requirements and Sources""

""5. Balance of Payments, 2009�17""""6. External Financing Requirements and Sources, 2009�17""; ""7. Selected Financial Indicators of the Banking System, 2007�11Q4""; ""8. Monetary Survey, 2010�17""; ""9. External Debt Sustainability Framework, 2007�17""; ""10. Government Debt Sustainability Framework, 2008�30""; ""11. Access and Phasing Under the Extended Arrangement, 2011�14""; ""12. Indicators of Fund Credit""; ""Figures""; ""1. High Frequency Indicators""; ""2. Labor Market Indicators""; ""3. Balance of Payments Developments""

""4. Financing of the Economy, 2008�April 2012""""5. Financial Indicators""; ""6. Government Debt Sustainability: Bound Tests""; ""7. External Debt Sustainability: Bound Tests""; ""Boxes""; ""1. Recent Labor Market Developments""; ""2. Reversing the Accumulation of Arrears""; ""3. Government Debt Sustainability Analysis""; ""Appendix""; ""I. Building an Effective and Streamlined Public Administration""; ""Attachments""; ""I. Letter of Intent""; ""II. Memorandum of Economic and Financial Policies""; ""III. Technical Memorandum of Understanding""

Notes:

"July 2012."

Description based on print version record.

ISBN:

9781475526134

147552613X

9781475554342

1475554346

9781299263871

1299263879