Portuguese Prime Minister Pedro Passos Coelho is meeting with opposition parties on Tuesday to reach consensus on whether the country will need a precautionary credit line once it ends its bailout program with international lenders.

The meeting comes just two months before the debt-laden country is due to end its bailout program, technically putting an end to three years under its foreign bailout creditors, though a precautionary line would mean more oversight and austerity in order for Portugal to attain a sustainable level of growth.

Portugal signed a 78-billion-euro (107.6-billion-US dollar) bailout package in May 2011 with the European Commission, the European Central Bank and the International Monetary Fund in turn it had to implement harsh spending cuts and increase taxes.

The Portuguese economy has showed signs of improvement in recent months, with the International Monetary Fund predicting Tuesday that it will grow 1.2 percent this year and 1.5 percent in 2015.

However, there is still skepticism that Portugal will be able to achieve a clean exit like Greece did, and make it alone after the program. Rating agencies still classify the country's bonds as "junk" and its public debt is still too high, reaching 129 percent of GDP.

Pressure on the debt-laden country to opt for a credit line has been growing. The Paris-based Organization for Economic Co-operation and Development (OECD) recently stated in its Sovereign borrowing outlook that since the debt Portugal has to repay is so high, it considers Portugal would benefit from an EU credit line.

Last month, Prime Minister Passos Coelho said it was still too early to decide whether a credit line would be the best move. The prime minister will finally meet with its social partners on Wednesday.

Passos Coelho already discussed the issue on March 17 with the leader of the main opposition Socialist Party, Antonio Jose Seguro, but talks with him failed to yield an agreement.

The Socialist leader has sustained long-term opposition to austerity and has said he will not defend a "low-cost" state, despite President Anibal Cavaco Silva attempting to forge a cross party agreement. Seguro has even been accused by the government of trying to ruin the country's reputation abroad.

Portugal could be tempted to follow Ireland, which managed a clean exit, but critics say it is too early to follow its footsteps. As Albert Jaeger, IMF resident representative, told Xinhua in an interview in December last year, Portugal may not be able to say "mission accomplished" until at least 10 years down the line.