International Monetary Fund (IMF) Director of External Relations Gerry Rice said the current deficit target for 2012 “remains appropriate”.
P]/dropcap]ortugal is making “good progress” and is “on track” with its budget goals, and the deficit target for 2012 “remains appropriate”, said International Monetary Fund (IMF) Director of External Relations Gerry Rice during a press conference in Washington. However, he acknowledged that risks had increased concerning budget targets.
[The deficit target] remains appropriate and requires rigorous implementation of the 2012 budget,” Rice said.
The IMF is one of the international creditors – jointly with the European Commision and the European Central Bank – of the so-called troika that provided Portugal with a €78bn bailout programme over three years ending in 2013.
On Monday, the fund is scheduled to discuss Portugal‘s fourth bailout evaluation, Portuguese news agency Lusa reported this Thursday.
Pending a positive outcome, Portugal will then receive its €4.1bn fifth bailout tranche of which €1.4 will be paid by the IMF.