“Portugal is up to date with its repayments to the institute. In fact, it’s ahead, since last year it made some early repayments”, an IMF spokesman told Lusa News Agency.
The spokesman was commenting on the Portuguese government’s decision to reduce the anticipated early repayments to about a third for this year, promising to pay €3.3 billion, after the previous government, led by Pedro Passos Coelho, had foreseen repaying €10 billion in 2016.
A presentation by the government treasury and public debt agency (IGCP) earlier this month to investors showed the funding strategy for this year up until 2019, that included some differences compared with those which been defined previously.
Back in October, when the finance ministry was still in the hands of Maria Luís Albuquerque, the IGCP expected to make early refunds of €18.4 billion to the Fund up until 2016: €8.4 billion in 2015 and another €10 billion in 2016.
However, in this week’s presentation, the first since Mário Centeno took over the reins at the finance ministry, the IGCP now says it intends to repay just €3.3 billion to the Fund this year and €2.5 billion in 2017, €4 billion in 2018 and €500 million in 2019.