From Crisis to Convergence : Charting a Course for Portugal

Book

Series:: Departmental Papers / Policy Papers
Author(s):: Dmitry Gershenson, Albert Jaeger, and Subir Lall
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: March 2016
DOI:: http://dx.doi.org/10.5089/9781513597225.087
ISBN:: 9781513597225
Page:: 118

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.

From Crisis to Convergence

Front Matter

Chapter

4. Dealing with Public Debt Overhang: Fiscal Adjustment and Challenges Ahead1

Author(s):: Dmitry Gershenson, Albert Jaeger, and Subir Lall
Published Date:: March 2016

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From Crisis to Convergence : Charting a Course for Portugal

4. Dealing with Public Debt Overhang: Fiscal Adjustment and Challenges Ahead1

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