Princeton University Library Catalog

Portugal [electronic resource] : Ex Post Evaluation of Exceptional Access Under the 2011 Extended Arrangement-Press Release; Staff Report; and Authorities Views.

Author:
International Monetary Fund. European Dept [Browse]
Format:
Book
Language:
English
Published/​Created:
[Washington, D.C.: International Monetary Fund, 2016]
Description:
1 online resource (78 p.)
Series:
IMF Staff Country Reports [More in this series]
Summary note:
This paper discusses Portugal's Ex-post Evaluation of Exceptional Access Under the 2011 Extended Arrangement. Portugal faced a sudden stop in financing in 2011. The authorities' IMF-supported program aimed to address the problems that had made Portugal vulnerable to changes in market confidence. The evaluation concurs that the program's "big decisions" were justified. The main lesson to be drawn from Portugal's experience is that adjustment in the context of currency union membership is difficult. Further work is needed to flesh out the measures required to support internal devaluation and private sector deleveraging. Options for union-level conditionality would benefit from clarification.
Source of description:
Description based on print version record.
ISBN:
1475538405 :
Doi:
  • 10.5089/9781475538403.002
Related name:
Other views:
Staff view