Portugal Exposed to Trade Risks

Portugal’s high debt load, limited growth and weak banks saddled with bad loans make the country particularly vulnerable to an international environment where protectionism is on the rise, the Organization for Economic Cooperation and Development warned on Monday, Reuters reported. “Portugal is in a moment of much vulnerability in the general external context,” Angel Gurria, head of the OECD, said as he presented an OECD survey on Portugal. Fitch Ratings said much the same on Friday, when it kept Portugal’s credit rating one notch below investment grade.