EU, IMF happy with Portugal bailout actions: minister

12th August 2011, Comments 0 comments

The EU, ECB and IMF 'troika' of Portugal's creditors is satisfied with Portugal's implementation of its debt bailout plan agreed in May, the Portuguese finance minister said on Friday.

"It is with satisfaction that I note the positive evaluation of the mission" from the European Union, European Central Bank and International Monetary Fund, Finance Minister Vitor Gaspar said in a statement read to the press.

"The mission highlighted the government's determination to implement the programme adopted in May," he said.

Portugal received a 78-billion-euro ($110 billion) from the European Union and International Monetary Fund earlier this year and agreed in return to stringent budget measures to scale back state spending.

Senior officials from the EU, IMF and ECB were to present their conclusions from their latest mission to Portugal later on Friday in Lisbon.

© 2011 AFP

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