Crises and Stabilizations in Portugal in the twentieth and twenty-first centuries; DR Development and Trade: Topic: The competitiveness of the Portuguese economy in the twentieth and twenty-first centuries

The IMF interventions in Portugal lay behind a negative economic context. In this paper, we will explain the negative paradigm that led to the IMF interventions in 1977 and 1983, as well as the success of those programs. We will demonstrate that the negative international context combined with a myriad of negative internal forces created enormous pressure on the balance of payments, a situation that became unsustainable and very difficult to solve without external help. Moreover, we will establish that both programs were successful in solving this disequilibrium while understanding which variables contributed the most to the desired outcome