Portugal set to receive next bailout tranche
PORTUGAL passed the third review by the EU and International Monetary Fund (IMF) of its €78bn (£66bn) bailout programme yesterday, and the country’s finance minister said it would not need a second rescue like Greece.
But the lenders warned that Portugal’s economic slump will deepen this year, and urged more reforms.
Inspectors recommended the bailout’s next tranche of €14.9bn be paid after finding Portugal had met fiscal goals and launched reforms to make the economy more competitive.