Portugal will reimburse another one billion euros to IMF this month

  • ECO News
  • 16 June 2017

Mário Centeno revealed that as soon as he has permission, he will make a new early payment to IMF. His prediction is a reimbursement of over one billion euros by the end of the month.

Portugal will once again make an early debt reimbursement to the International Monetary Fund (IMF), stated Mário Centeno. The Portuguese Finance Minister foresees paying one billion euros until the end of the month, as soon as he has the green light from his Euro Area partners to move forward with an early amortization programme, worth almost ten billion euros.

“We are going to start very soon [making the early reimbursement to IMF], as soon as we have the formal authorization from the European institutions, and until the end of the month we will be able to repay one billion euros“, Centeno Stated in an interview to Bloomberg TV.

Portugal has been reimbursing the IMF loans more quickly than expected. The high interests charged by the institution headed by Christine Lagarde explain this strategy, which has been commended by Schäuble, for example, who says Portugal’s financial aid programme is a “success story“.