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11 Mar 2013
Troika inclined towards extending Portugal’s rescue loan maturity
According to Reuters’ sources the IMF, EU and ECB inspectors are expected to agree to an extension of the maturity of Portugal’s bailout loans until 2015.
The Troika inspectors, which are carrying out the quarterly review of the country’s rescue program this week, see a possibility of giving Portugal more time to cut its budget deficit below 3% of GDP. They acknowledge Lisbon’s efforts to meet the bailout program requirements so far, but they also note the adverse impact of the recession in Europe on the Portuguese economy.
That is why they signalized on Monday that the country might be given one more year to cut its deficit.
The Troika inspectors, which are carrying out the quarterly review of the country’s rescue program this week, see a possibility of giving Portugal more time to cut its budget deficit below 3% of GDP. They acknowledge Lisbon’s efforts to meet the bailout program requirements so far, but they also note the adverse impact of the recession in Europe on the Portuguese economy.
That is why they signalized on Monday that the country might be given one more year to cut its deficit.