Edition 1453
09 December 2017
Edition: 1453

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Portugal makes early €2.78 bn repayment to IMF

by TPN/ Lusa, in News · 20-11-2017 09:36:00 · 1 Comments

Portugal has repaid the International Monetary Fund (IMF) in advance by a further €2.78 billion euros, the Portuguese Finance Ministry said in a statement issued.

Portugal makes early €2.78 bn repayment to IMF

 

The payment of the installment, which was due to be paid off in June 2020 and May 2021, was carried out on Thursday and, with it, "76% of the IMF loan is settled," amounting to US$26.3 billion.

 

Finance MInister Mario Centeno's office also added that this year €9.012 billion have already been paid, which represents "the maximum amount paid off, in a given year, to date".

 

According to the statement, the IMF's early repayment plan will continue to be implemented in 2018.

 

"Early repayment to the IMF is instrumental in improving debt sustainability while reducing the cost of debt and at the same time allowing for more balanced payment management and increasing average maturity," it said.

Comments

Finance MInister Mario Centeno is a very competent and extremely wise man in his role in Government.

The IMF is without any doubt the biggest bunch of loan shark money lenders in the World. The EU is next they also take from the poor and give to the wealthy.
by Gordan Finch from UK on 21-11-2017 10:56:00

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Edition 1453
09 December 2017
Edition: 1453

Read this week's issue online exactly as it appears in print.

Twitter