Loan request

THE OPPOSITION centre-right PSD party believes that the Portuguese audit exchequer, Tribunal de Contas, will turn down the 360 million euro loan which Lisbon Câmara needs to continue functioning.

The loan, the first tranche of a total of 450 million euros, is needed to pay off thousands of service suppliers whose bills have, in some cases, not been paid for nearly two years.

Carlos Carreiras, who heads up the PSD Party in the Lisbon District, said last week that he had “information” that the loan would not be allowed under laws which restrict the amount of lending municipal councils can make from financial institutions.

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