Portugal has already paid another 1,000 million to IMF
A new reimbursement of 1,000 million euros has been payed to the IMF, the Finance Ministry announced. Mário Centeno hopes to return another 2.6 billion euros until August.
Portugal has once again repaid part of its debt to the International Monetary Fund (IMF), concerning the loan it received in 2011. The Finance Ministry confirmed a new 1,000 million euros reimbursement this Friday, after having received the green light from its European partners to star accelerating the debt repayment. By August, the ministry headed by Mário Centeno hopes to return another 2,600 million.
“Portugal reimbursed today, in advance, another part of the IMF loan, correspondent to 1,000 million euros, which matured between July and October 2019. By August, Portugal intends to make another payment of 2,600 million, anticipating the amortization of the loan which would occur until April, 2020“, stated the Finance Ministry. “These payments will not have an impact on debt issuances in the international market to be performed in 2017”, the ministry adds.
Portugal reimbursed today, in advance, another part of the IMF loan, correspondent to 1,000 million euros, which matured between July and October 2019. By August, Portugal intends to make another payment of 2,600 million, anticipating the amortization of the loan which would occur until April, 2020.
With this early reimbursement of the IMF loans, Portugal intends to decrease the financing costs of the Portuguese debt by replacing the high interests rates charged by Christine Lagarde’s Fund for more favorable financing conditions it has been finding in the financial markets.
