Portuguese gov't meets social partners to discuss troika assessment

0 Comment(s)Print E-mail Xinhua, April 22, 2014
Adjust font size:

The Portuguese government is meeting its social partners on Monday to discuss the latest assessment of the debt-laden country's implementation of its 78 billion euros (107.7 billion U.S. dollars) bailout program.

The troika of international creditors -- European Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB) -- will arrive in Lisbon on Tuesday.

Portugal passed its 11th review in January but had to present further cuts of 1.4 billion euros to close the assessment. The deal was finally concluded last Friday, after which the IMF approved the country's next tranche of 851 million euros that Portugal will receive on June 29.

After meeting with social partners, the Portuguese government will issue its first long-term debt since 2011. Its plan is to issue between 500 million euros and 750 million euros in 10-year bonds.

Portugal has seen a successful string of bond sales recently, but it will be its first time issuing long-term debt without a banking syndicate. The country attracted strong demand during its last bond issue in January.

During the financial crisis, Portugal was considered risky for investors due to its high debt burden. But recent bond sales are a sign the worst is over as the country nears the end of its bailout program signed with the troika in May 2011.

Portugal is due to end the three-year financial package on May 17. Endi

Follow China.org.cn on Twitter and Facebook to join the conversation.
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter