Portugal Debt Is Still Too High, Says Central Bank Chief Pereira

Portugal, one of the euro area’s standout performers in reducing public liabilities in recent years, still faces an excessive burden and must work harder to reduce it, according to new central bank governor Alvaro Santos Pereira.

“It is absolutely vital to continue the effort to deleverage the national economy,” Pereira said Monday at his inauguration ceremony in Lisbon. “To avoid new crises and be better prepared for future shocks, it is fundamental that the state, families and companies continue to reduce their indebtedness in the coming years.”