Portugal: Request for a Three-Year Arrangement Under the Extended Fund Facility

International Monetary Fund

No 2011/127, IMF Staff Country Reports from International Monetary Fund

Abstract: Portugal's economy faced severe crisis during the global economic and financial crisis. In this context, Portugal's authorities have put forward an economically well-balanced program that will focus on structural reforms to boost growth and employment, ensure balanced fiscal sustainability, safeguard financial stability, and prevent a credit crunch. The Executive Board of the International Monetary Fund welcomed this step, and approved a three-year arrangement under the Extended Fund Facility for Portugal.

Keywords: ISCR; CR; financing; plan; authority; SDR; fast-track Emergency Financing Mechanism procedure; policy; financing package; IMF quota; State budget; adjustment plan; Fiscal consolidation; Credit; Public sector; Commercial banks; Global; Europe (search for similar items in EconPapers)
Pages: 121
Date: 2011-06-07
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