LISBON: Portugal has authorised the early re-payment of a further €1.8 billion to the International Monetary Fund, the Minister of Finance Maria Luís Albuquerque told journalists as she arrived in Luxembourg for a Eurogroup meeting.
The minister first responded to journalist questions by dismissing any potential negative impact from Greece departing from the eurozone given Portugal had its financing secured over the medium term. Hence, Albuquerque said, there was the scope for repaying the IMF back early and that the order had already been given for a further €1.8 billion repayment to add to the €6.6 billion already returned early.
Portugal has already been given authorisation to repay up to a half of its IMF loans, thus up to €14 billion out of the €28 billion granted, given its return to the bond markets had provided cheaper alternative sources of financing.
