Public Debt Falls to 246.9M€ in June

Public debt dropped by 5.6Bn€ in June, after the payment of 8.1Bn€ in general obligation bonds during that month as reported by the Bank of Portugal. With such reimbursement, the public debt fell from 252.5Bn€ to 246.9Bn€.

During last June, IGCP (Portuguese Treasury and Debt Management Agency) underwent the biggest amortization of the year by reimbursing more than 8.1Bn€ to creditors, who have bought those bonds in 2009. To pay for it, the Portuguese government had to issue more 1.250Bn€ in 10-25Years bonds in the markets.

By doing so, the Portuguese State reduced its overall public indebtment to the lowest value since December 2018, when the country paid its last instalment to the IMF.

 

 

Source: ECO News