Portugal makes another 1 000 million EUR early repayment to the IMF. Further 2 000 million EUR payments to be anticipated by the end of the year

Portugal made today a 1 billion EUR early repayment to the IMF. This anticipation refers to a payment that would be done between May and June 2020.

With today’s payment Portugal has repaid 66% of the original IMF loan, which amounted to 26 300 ME.

By the end of the current year, Portugal will repay a further 2 000 million EUR, anticipating loan repayments that would occur until November 2020.

These are scheduled payments and will not have an impact on debt issuances of Portugal in the international market still to be done in 2017.

The IMF's early repayment plan will continue to be implemented throughout 2018 and is already integrated in the Portuguese Republic's financing programme. By the end of the current year, more than 40% of the 2018 financing needs will be guaranteed, including 1 400 million EUR of payments to the IMF.

Early repayments to the IMF contribute decisively to improve 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.