The International Monetary Fund (IMF), Monday (16/7) said, has been releasing fresh funds amounting to 1.48 billion euros (1.82 billion U.S. dollars) to the troubled Portugal after Lisbon through a review of performance based on the bailout loan program.
The IMF said Lisbon was on track to narrow the fiscal deficit under tough austerity measures required under the rescue program with the IMF-EU for 78 billion euros, which was launched in May 2011.
"The government is implementing a program with a strong, despite the difficult environment of the euro area, is commendable and there are good signs of adjustments in fiscal and external transactions," said deputy director of the International Monetary Fund Nemat Shafik.
"Fiscal consolidation is on track. Target end of fiscal 2012 remains within reach, despite the risks to the achievement has increased due to weaker revenue performance," he said in a statement.
This is the fifth tranche of a three-year funding under the IMF amounting to 29.3 billion euros, part of the joint program.
The IMF said Lisbon should continue to push to strengthen tax collection and labor market reforms to address the sharp rise in unemployment. (ANT / AFP / MEL)
The IMF said Lisbon was on track to narrow the fiscal deficit under tough austerity measures required under the rescue program with the IMF-EU for 78 billion euros, which was launched in May 2011.
"The government is implementing a program with a strong, despite the difficult environment of the euro area, is commendable and there are good signs of adjustments in fiscal and external transactions," said deputy director of the International Monetary Fund Nemat Shafik.
"Fiscal consolidation is on track. Target end of fiscal 2012 remains within reach, despite the risks to the achievement has increased due to weaker revenue performance," he said in a statement.
This is the fifth tranche of a three-year funding under the IMF amounting to 29.3 billion euros, part of the joint program.
The IMF said Lisbon should continue to push to strengthen tax collection and labor market reforms to address the sharp rise in unemployment. (ANT / AFP / MEL)
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