Title Portugal : selected issues

Published Washington, D.C. : International Monetary Fund, 2016 ©2016

Click on the following:
IMF eLibrary

Copies

Description 1 online resource (48 pages) : color illustrations Series IMF Country Reports ; no. 16/301 IMF country report ; no. 16/301. Contents Policy options to mitigate the impact of adverce demographic developments -- Challenges confronting Portuguese banks: profitability and asset quality -- Portugal through quantitative easing (QE) Summary Policy options to mitigate the impact of adverce demographic developments: This paper estimates the fiscal impact of demographic changes in Portugal and the euro area over the period 2015-2100, based on the 2015 United Nations (UN) projections for fertility, mortality and migration. By focusing on projections up to 2100, it presents the fiscal implication of demographic trends that will be fully realized only over the longer term. While long-term demographic projections must be taken with caution given large uncertainties, various alternative scenarios point to a significant impact on fiscal sustainability in Portugal. -- Challenges confronting Portuguese banks: profitability and asset quality: This paper provides an overview of the main challenges confronting the Portuguese banking system, and identifies two key sources of vulnerability: low profitability and lackluster asset quality. It then studies the drivers of profitability and asset quality in Portuguese banks before, during, and after the global financial crisis and examines policy options for increasing profitability and strengthening asset quality over the medium-term. -- Portugal through quantitative easing (QE): The ECB initiated asset purchases in October 2014 in order to further ease monetary conditions in the context of below-target inflation in the euro area, where key ECB interest rates were near the lower bound. The asset purchase program aimed to improve access to finance for firms and households, supporting investment and consumption and contributing to a return of inflation toward the ECB target range. While it is difficult to build a counterfactual to assess what would have happened in the absence of a policy response, this paper summarizes the scale of ECB support to Portugal through its asset purchase program, and assesses the impact on public finances, the financial sector, and macroeconomic developments Notes "August 25, 2016; approved by European Department; prepared by M. Queyranne (FAD); M. Gaertner, I. Yackovlev (all EUR); A. Bouveret (MCM); with assistance from Y. Cai and V. Bezerra de Menezes (all EUR)"--Page 2 of pdf "September 2016." Bibliography Includes bibliographical references Notes Online resource; title from pdf title page (IMF.org website, viewed October 11, 2016) Subject International Monetary Fund -- Portugal SUBJECT International Monetary Fund fast Subject Asset-backed financing -- Portugal Banks and banking -- Portugal Corporate debt -- Portugal Economic development -- Portugal Fiscal policy -- Portugal Structural adjustment (Economic policy) -- Portugal Asset-backed financing Banks and banking Corporate debt Economic development Fiscal policy Population -- Economic aspects Structural adjustment (Economic policy) SUBJECT Portugal -- Population -- Economic aspects Subject Portugal Form Electronic book Author Bouveret, Antoine, author Gaertner, Matthew, author Yackovlev, Irene, author International Monetary Fund, issuing body. International Monetary Fund. European Department. ISBN 1475538391 9781475538397

  Permalink