Portuguese public debt has been an obstacle to economic growth for several years. The deterioration of the fiscal position has led to an escalation in public debt. Therefore, the sustainability of the Portuguese debt trajectory depends on our ability to achieve, in a lasting way, demanding but achievable goals, both in terms of growth and budgetary consolidation. More than discussing unrealistic, unfeasible and counterproductive debt restructuring scenarios, a broad reformist commitment to sustainable growth is required. Several issues arise around this argument, such as the dynamics of public indebtedness in Portugal and Europe since the sovereign debt crisis, with an emphasis on the present crisis, the financing risk versus refinancing risk, the instruments to manage moments of crisis with high degree of uncertainty, analyzing cost of financing/interest rates and GDP growth and European rules on debt sustainability. It is within the scope of these themes that the present Conference fits.

guest

Dr. Cristina Casalinho
Chairman of the Board of Directors of the Treasury and Public Debt Management Agency – IGCP, EPE;