The IMF is to lend 3.98 bln. euros to Portugal in the shortest terms. As Agence France-Presse informs, this decision was made on Monday, September 12, by the IMF executive board after checking whether this country has been fulfilling the conditions of assistance rendering.
The sum will be part of 27 bln. euros loan, promised by the fund in May. All in all, Portugal will have 78 bln. from the IMF and the EU. This amount will be paid to the country within three years.
Portugal applied for a stabilizing loan in April 2011, following Greece and Ireland. In July 2011 Moody’s agency downgraded the loan rating of the country to Ba2 with a negative forecast.