Edition 1453
09 December 2017
Edition: 1453

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Portugal makes early €2.78 bn repayment to IMF

by TPN/ Lusa, in Business · 23-11-2017 15:04:00 · 0 Comments

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

The payment of the instalment, which was due to be paid off in June 2020 and May 2021, was carried out on Thursday and, with it, “76 percent 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.

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Edition 1453
09 December 2017
Edition: 1453

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

Twitter