Portugal Pays Its Remaining Debt to The IMF in 2018

“Until the end of 2018, we will pay the totality of this debt to the IMF”, the PM announced at the Parliament this Thursday morning.

Portugal will pay the remaining of the debt from the IMF by the end of this year, the Prime Minister, António Costa, announced in a speech at the Parliament this Thursday, on the occasion of the end of debates on the State Budget for 2019.

“We know we have a long road ahead of us. And we are here to keep building that road. The same determination we had governing this country, is the determination which allows me today to announce that we will, by the end of this year, pay fully the remaining debt we have with the IMF,  The country had been trying to redeem this amount in advance, given the high-interest rates such a loan encompasses (interest rates on the IMF debt reached 4% at a certain point).

Prime Minister said: “The same determination we had governing this country, is the determination which allows me today to announce that we will pay fully the remaining debt we have with the IMF, by the end of this year.”

 

 

Source: ECO News