Portugal is planning to repay its 14 billion euros (about $16 billion)
of debt it owed to the International Monatery Fund (IMF) earlier,
Portuguese Lusa News Agency reported on Tuesday...
Portugal plans to pay off the debt in up to two-and-a-half years. The government's proposal will be discussed at a Eurogroup meeting next Monday.
Portuguese finance minister Maria Luis Albuquerque last month announced that Portugal would follow Ireland in making a repayment to the IMF, taking advantage of low borrowing costs for European peripheral governments.
Albuquerque pointed out that Portugal's ability to do this was because it had "accumulated a very significant liquidity buffer," and because the country had managed to sell long-term bonds.
The IMF lent Portugal 26.9 billion euros, which carried a 3.7-percent tax rate and an average loan maturity of seven years.
Source:Xinhua
[globaltimes.cn ]
11/2/15
***Photo: jn.pt
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Portugal plans to pay off the debt in up to two-and-a-half years. The government's proposal will be discussed at a Eurogroup meeting next Monday.
Portuguese finance minister Maria Luis Albuquerque last month announced that Portugal would follow Ireland in making a repayment to the IMF, taking advantage of low borrowing costs for European peripheral governments.
Albuquerque pointed out that Portugal's ability to do this was because it had "accumulated a very significant liquidity buffer," and because the country had managed to sell long-term bonds.
- On Jan. 13, the debt-laden country sold 5.5 billion euros in bonds including 2 billion euros of 30-year debt.
The IMF lent Portugal 26.9 billion euros, which carried a 3.7-percent tax rate and an average loan maturity of seven years.
Source:Xinhua
[globaltimes.cn ]
11/2/15
***Photo: jn.pt
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Related:
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