Portugal is not planning a new early repayment to Europe in 2020
After the first debt payment before the deadline in 2019, the IGCP is not planning further repayments in 2020. It is, however, available for adjustment.
Portugal is not currently preparing any early repayment of debt to European creditors in 2020, according to the president of the Treasury and Public Debt Management Agency – IGCP, Cristina Casalinho, in a statement to Jornal de Negócios.
“At the moment, we do not foresee this possibility [an early repayment of the debt lent by the troika],” Cristina Casalinho told Jornal de Negócios. She stressed, however, that the plans may change because there is “flexibility” to “adjustments that may prove necessary” in view of the “financing needs throughout the year.”
Over the course of 2017 and 2018, Portugal repaid its total debt to the International Monetary Fund in advance, and last year made the first payment to European creditors. The country paid two billion euros to the European Financial Stabilisation Fund (FEEF), maturing only in 2025 and 2026.
The financial rescue of 78 billion euros to Portugal came from different sources and each one established its conditions. In addition to the IMF’s 26.3 billion, the country owes 25.3 billion to the FEEF and another 24.3 billion to the European Stability Facility.
