Cover Departmental Papers
From Crisis to Convergence: Charting a Course for Portugal
Author: Mr. Dmitry Gershenson, Mr. Albert Jaeger, and Mr. Subir Lall
Series:
Departmental Papers
Volume/Issue:
Volume 2016: Issue 005
Language:
English
Publication Date:
25 Mar 2016
DOI:
https://doi.org/10.5089/9781513597225.087
ISBN:
9781513597225
ISSN:
2616-5333
Pages:
123
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
Legal-disclaimer:
The Departmental Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
Cover Departmental Papers
Departmental Papers
ISSN:
2616-5333
Publisher:
International Monetary Fund