Portugal to repay IMF USD6.71b loans next month| MENAFN.COM

Wednesday, 10 August 2022 09:22 GMT

Portugal to repay IMF USD6.71b loans next month

(MENAFN) Portugal is going to start repaying its bailout loans from the IMF next month, giving back USD6.71 billion, Finance Minister said, Gulf Times reported.

The European Union has given Lisbon approval to make USD15.66 billion in repayment on its loans.

She said the economy will accelerate repayment of its remaining debts to take advantage of record low yields on Portuguese government bonds, which are now far below the interest it has to pay the Fund.

"When we've repaid the 14 billion euros, we will tell our European partners that we are now in a condition to reimburse the rest to be able to enjoy savings on interest in full," she said in televised remarks.

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