Skip to main content

Portugal makes early 1-billion euro repayment to IMF

Portugal made an early repayment of 1 billion euros to the IMF, hoping to repay the remaining 2.6 billion in bailout loans by August © Provided by AFP Portugal made an early repayment of 1 billion euros to the IMF, hoping to repay the remaining 2.6 billion in bailout loans by August

Portugal has made an early repayment of one billion euros to the International Monetary Fund and intends to repay a further 2.6 billion euros of bailout loans by August, the government said Friday.

As part of a bailout in 2011, Portugal was loaned 29.6 billion euros by the IMF, more than half of which has already been repaid.

But Lisbon aims to reduce interest on borrowings with further early payments.

The IMF interest currently stand at 4.6 percent, compared to available market rates of 3.0 percent over 10 years.

"The early repayment to the IMF is significant in improving the viability of debt by reducing its cost," the finance ministry said in a statement.

Once the next 2.6 billion euro sum is repaid, 10.4 billion euros of debt will remain to be repaid, according to the government.

Labels:

Popular posts from this blog

Tech 2017: Biggest fails, scandals and embarrassments

© Provided by IBT US This year brought many tech innovations and products, like the iPhone X, virtual reality headsets and augmented reality on apps. However, the tech industry also saw failures this year. Like all businesses, not all products or ideas succeed. The tech industry saw some of its gadgets fail to take off. Besides product failures, the sector was also plagued by scandals and congressional testimonies. Here are the tech industry’s 2017’s top product flops and scandals: Amazon Key In late October, Amazon announced a new delivery method for Prime members which allows drivers to set packages inside customers’ home . The delivery system works with the Amazon Key In-Home Kit that is set up for $249.99. With the kit, users can select the “in home” option on the app and get their items delivered inside their homes. Prime members can receive alerts and can see the delivery happen in real-time through the app. While the service was pitched to people who are too busy to shop,
Read more

R. Tiglao Exposed LTO Records Showing Aquino Never Bought or Sold a Porsche

Veteran columnist Rigoberto Tiglao exposed the Land Transportation Office (LTO) records of former President Benigno Aquino III showing that he never bought or sold an expensive Porsche car. The LTO records proved that the former President did not sold his Porsche 911 Carrera car which he claimed he bought for P5 million. The controversial Porsche car of the former President made headlines just months into his presidency but he explained that he bought the luxury car with the proceeds he got when he sold his BMW. Because of the furor from such display of opulence, Pres. Aquino claimed to have sold it six months later for exactly the same price. According to Tiglao during that time he asked through his column the LTO to release the car's deed of sale and registration to prove that it was not a gift from a Chinese-Filipino tycoon as rumored by some individuals critical to the President. The only possible way to discover whether the Porsche luxury was indeed sold was through
Read more

2 aktres, may silent gap pa rin

ANG pamilya kaya nina Ogie Alcasid at Regine Velasquez ang peg nina Dennis Trillo at Jennylyn Mercado? One big happy family sina Ogie at Regine at ang ex-wife ni Ogie na si Michelle Van Eimeren and her present husband, Michael Furrow. Magkakasundo rin ang mga anak ni Ogie kay Michelle na sina Leila at Sarah at Nate na anak nina Ogie at Regine. Nakatira na si Leila sa house nina Ogie at Regine. Sa kaso nina Dennis at Jennylyn, maayos na rin ang samahan ni Jen and her ex-boyfriend, Patrick Garcia and his wife, Nika Martinez. Magkakasundo rin ang tatlong anak nila at ang anak nina Jen at Patrick na si Alex Jazz. Nakaka-good vibes ang lumabas na picture na magkakasama sila. Mukhang naayos na nina Patrick at Jen kung anuman ang naging gusot sa kanila noon. Good influence si Dennis kay Jen na kahit noon pa man ay malaki ang nagawa nito para maayos ang relasyon ni Patrick sa anak nila ni Jen. May panahong ipinagkait ni Jen kay Patrick na makita o makapiling nito si Alex Jazz. Tatay d
Read more