01647cas a2200241 a 4500 AALejournalIMF011283 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463902971 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Portugal : First Review Under the Extended Arrangement. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (111 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Macroeconomic imbalances are large, and structural problems are deep-rooted in Portugal. The new government's strong commitment to program implementation is encouraging. Fiscal performance so far demonstrates the need to refocus the fiscal strategy on strong expenditure control, as envisaged under the program. To support activity, it is crucial to prevent an excessively rapid deleveraging of the banking sector. Ultimately, the success of the program hinges on opening up the economy and improving competitiveness. The European Council's renewed support enhances prospects for the program's success. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2011/279 Full text available on IMF http://elibrary.imf.org/view/journals/002/2011/279/002.2011.issue-279-en.xml IMF e-Library