From Crisis to Convergence: Charting a Course for Portugal

Dmitry Gershenson, Albert Jaeger and Subir Lall ()

No 2016/005, IMF Departmental Papers / Policy Papers from International Monetary Fund

Abstract: In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.

Keywords: DPPP; DP; DVA export; resource; debt; Portugal; Portugal's growth challenge; tradables sector; growth prospect; misallocation of resource; government policy; Labor markets; Structural reforms; Global; Southern Europe (search for similar items in EconPapers)
Pages: 123
Date: 2016-03-25
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