EU-IMF group clears Portugal bailout payment

EU-IMF group clears Portugal bailout payment


 

Portugal should get an €8 billion instalment from its bailout package, despite slippages in its budget deficit for 2011, experts from a group of international lenders concluded on 16 November.

Due to reckless spending, mainly in the region of Madeira, Portugal's 2011 deficit would overshoot targets by 1.5 percentage points, a troika of experts from the European Union, the European Central Bank (ECB) and the International Monetary Fund (IMF) said after a mission in Lisb...


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