Portugal has repaid 63% of IMF loan

On the road to recovery, Portugal has already repaid 63% of the bailout loan conceded in 2011 by the IMF.

The news came today after the latest repayment of “around €790 million”.

Said the Institute of Management of Public Credit the money was due in March-April of 2020, thus Portugal has managed yet another ‘earlybird repayment’ in a bid to dodge heavy rates of interest.

According to SIC television news, the latest repayment came as a result of a loan from Santander, resulting from a deal in the controversial case involving swaps contracts.

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