Brussels, 17/02/2015 (Agence Europe) - Eurogroup and the Ecofin Council support Portugal's desire to make early repayment on nearly half of its loans from the IMF.
“I am happy to tell you that the Eurogroup supports in principle early repayment of IMF loans by Portugal,” explained the head of Eurogroup, Jeroen Dijsselbloem, on Monday 16 February. Making an almost open reference to Greece, he added: “Like Ireland, Portugal demonstrated how quickly a country can get back on its feet after a successful adjustment programme provided there is ownership on ongoing reform.”
Economic Affairs Commissioner Pierre Moscovici said: “This is a clear sign of renewed market confidence deriving from significant progress made by Portugal since the outbreak of the crisis. Net savings of €0.5 billion in interest payments will have a positive impact on debt sustainability” (Portugal wants to make an early repayment of €14 billion of the €26.9 billion it has borrowed from the IMF.) The repayment talks are due to be finalised by the end of the month, but a number of countries will then need to ratify the decision at national level. (Mathieu Bion)