IMF / PORTUGAL

The IMF confirmed Thursday that it has not received a request for financial assistance from Portugal. Earlier this week, Standard and Poor's further downgraded Portugal's credit rating, a move that will increase the interest rates that Lisbon must pay on its debt. IMF

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:29
• Production Date: 31 March 2011
• Asset Language: Original
• Corporate Name: INTERNATIONAL MONETARY FUND - IMF
• Subject Topical: ECONOMIC DEVELOPMENT; FINANCING; ECONOMIC CONDITIONS
• Geographic Subject: PORTUGAL
• MAMS Id: U110331d

Description

STORY: IMF / PORTUGAL
TRT: 1.29
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 31 MARCH 2011, WASHINGTON, DC

Shotlist

RECENT 2011, WASHINGTON DC

1. Wide shot, exterior IMF headquarters
2. Close-up, IMF sign

31 MARCH, 2011, WASHINGTON DC

3. SOUNDBITE: (English) Caroline Atkinson, Director External Relations, IMF:
“I can tell you that we have had no request for financial assistance from Portugal. Of course, the Portuguese authorities are facing a difficult situation. They have taken a number of important steps. They’ve embarked on a program of fiscal consolidation and have expanded that to a reform program. We believe that these are important steps that need to be continued. The fiscal consolidation is one element. Another important element is steps to promote growth and reduce unemployment and urgent efforts to ensure stability of the financial system.”
4. Cutaway, reporters
5. SOUNDBITE (English) Caroline Atkinson, Director External Relations, IMF:
“We also with Egypt expect to have a technical team visiting Egypt soon, in the next few days that will discuss with the government the economic prospects in the light of recent events.”

RECENT 2011, WASHINGTON DC

6. Close-up, IMF seal

Storyline

The IMF confirmed today (31 March) that it has not received a request for financial assistance from Portugal.

Earlier this week ‘Standard and Poor’s’ further downgraded Portugal’s credit rating, a move that will increase the interest rates that Lisbon must pay on its debt.

IMF spokesperson Caroline Atkinson said that although Portugal’s financial situation is difficult, the government has taken some positive steps.

“I can tell you that we have had no request for financial assistance from Portugal. Of course, the Portuguese authorities are facing a difficult situation. They have taken a number of important steps. They’ve embarked on a program of fiscal consolidation and have expanded that to a reform program. We believe that these are important steps that need to be continued. The fiscal consolidation is one element.

Another important element is steps to promote growth and reduce unemployment and urgent efforts to ensure stability of the financial system,” Atkinson said.

Separately, Atkinson said that an IMF team will soon travel to Egypt to discuss the economic outlook following recent political upheaval.

“We also with Egypt expect to have a technical team visiting Egypt soon, in the next few days that will discuss with the government the economic prospects in the light of recent events,” Atkinson said.