16358
Portugal  Doing Better
World Economy

Portugal Doing Better

Portugal’s economy is improving on the back of short-term benefits but the country still needs to tackle deep-rooted problems that date from before its 2011 bailout, the International Monetary Fund said in a report published Friday, AP said. Portugal – like the rest of the eurozone – is benefiting from low interest rates, low oil prices and the weak euro currency which is helping exports grow, the IMF said. But it noted that Portugal’s medium-term prospects “are still clouded by legacy problems.” Those include the high private, public and corporate debt that forced Portugal to ask for a 78 billion euro ($87.5 billion) rescue because investors, fearing they wouldn’t get their money back, stopped lending to the country. Weak levels of investment and unemployment close to 14 percent are other stubborn problems identified by the IMF. And the three main international ratings agencies still classify Portuguese bonds as junk.

 

Short URL : http://goo.gl/mVVMbc

You can also read ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...

Trending

Googleplus