Embassy of Portugal in United Kingdom

Ministry of Foreign Affairs

Portugal makes another 2,780 million euros early repayment to the IMF

Portugal made yesterday a 2 780 billion EUR early repayment to the IMF. This anticipation refers to a payment that would be done between June 2020 and May 2021. During 2017 Portugal repaid 9 012 million EUR to the IMF. This is the highest amount ever paid in a single year. With this payment, Portugal has repaid 76% of the original IMF loan, which amounted to 26 300 ME. The IMF's early repayment plan will continue to be implemented throughout 2018. Early repayments to the IMF contribute decisively to improving debt sustainability while reducing the cost of debt. Moreover, it allows for a more balanced management of payments while it increases average maturity of the Portuguese debt.

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