Memo: Statement by the EC, ECB, and IMF on the Second Review Mission to Portugal

Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Lisbon during November 7-16 for the second quarterly review of Portugal’s economic program. The mission has reached staff-level agreement on economic and financial policies to meet the program’s objectives. Strict implementation of these policies will be needed to restore external competitiveness, bolster confidence in the sustainability of public finances, and maintain financial stability while ensuring adequate credit in support of sustainable growth.