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In 2012 the Portuguese debt, at 129% of the GDP, was the second highest in relative terms in the European Union only after Greece. [3] By the first semester of 2013, the Portuguese national debt increased to a record-high of 130% of the GDP, around 214.5 billion Euros or 293 billion US dollars. [4] In June 2014, the public debt reached 134% of ...
The Banco de Portugal (English: Bank of Portugal) is the Portuguese member of the Eurosystem and has been the monetary authority for Portugal from 1846 to 1998, issuing the Portuguese escudo. Since 2014, it has also been Portugal's national competent authority within European Banking Supervision. [3] The bank was founded by royal charter in ...
The bank is primarily active in Portugal and Spain, Angola and Mozambique. In Angola, BPI is the market leader in corporate banking and its activity reached a 25% market share on its 50.1% stake in Banco de Fomento Angola (BFA) with 750,000 customers (as at December 2010). In Mozambique, the BPI maintains a 30 percent stake in the bank BCI Fomento.
The 2010–2014 Portuguese financial crisis was part of the wider downturn of the Portuguese economy that started in 2001 and possibly ended between 2016 and 2017. [1] The period from 2010 to 2014 was probably the hardest and more challenging part of the entire economic crisis; this period includes the 2011–14 international bailout to Portugal and was marked by intense austerity policies ...
Portugal's central bank is the Banco de Portugal, which is an integral part of the European System of Central Banks. The largest Portuguese banks are Banco Comercial Português and the state-owned Caixa Geral de Depósitos. [139] Portuguese banks hold strategic stakes in other sectors of the economy, including the insurance sector.
The Economic Adjustment Programme for Portugal, usually referred to as the Bailout programme, is a Memorandum of understanding on financial assistance to the Portuguese Republic in order to cope with the 2010–14 Portuguese financial crisis. The three-year programme was signed in May 2011 by the Portuguese Government under then-Prime Minister ...
3 November 1949 (age 74) Oliveira de Azeméis, Portugal. Alma mater. University of Porto. Occupation. Economist. Carlos da Silva Costa (born November 3, 1949, in Oliveira de Azeméis) is a Portuguese economist who served as Governor of the Bank of Portugal from June 7, 2010 [1] to July 20, 2020, when he was succeeded by Mário Centeno .
Alves Reis was a child of a humble family; his father was a financially troubled undertaker who ended up being declared insolvent.Reis wanted to study engineering.He started his degree but quit in the first year to marry Maria Luísa Jacobetti de Azevedo, sister of Octávio Jacobetti de Azevedo and daughter of de Azevedo and Beatriz, in August 1916.