Tag Archives: 'IMF'
John Berrigan is the new troika mission chief for Portugal. The International Monetary Fund (IMF) also said it was replacing Abebe Selassie with Subir Lall.
Given the current political situation, the Government has asked to postpone the 8th and 9th regular assessments now scheduled for August/early September.
IMF spokesman Gerry Rice said that officials were discussing with Lisbon the “exact timing” of the mission’s next visit. The review was to have started on 15 July.
The credit rating agency said on Monday that Portugal should be able to achieve its revised fiscal targets for 2013 and 2014, as it expects its economy to stabilise until the end of the year.
“Brazil is following closely the effort of the Portuguese people to overcome a challenging economic circumstance,” Dilma Rousseff said in a toast at the Palace of Queluz near Lisbon
After a meeting with British Labour leader Ed Miliband, the secretary general of the Portuguese Socialist Party said it was not enough for the IMF to admit its mistakes, it also needed “to act”.
If the board votes to approve the assessment by the so-called troika, as expected, that makes possible the disbursement of the eighth tranche of the bailout loan guarantees. The Eurogroup will discuss the results of the seventh review on 20 June.
The Ministry of Finance said the troika would be in Lisbon “from Tuesday” to assess the latest austerity measures announced by Prime Minister Pedro Passos Coelho Friday.
The head of the International Monetary Fund’s mission to Portugal said the country’s deficit targets had been revised to avoid further recession and unemployment.
Despite the economy being expected to slump further, the IMF says it still expects a recovery late in the year.