Arab Today, arab today portugal raises €750m in key bond issue
Last Updated : GMT 09:18:57
Arab Today, arab today
Arab Today, arab today

Portugal raises €750m in key bond issue

Arab Today, arab today

Arab Today, arab today Portugal raises €750m in key bond issue

Lisbon - AFP

Portugal breezed through a key bond market test on Wednesday, enjoying sharply lower borrowing costs just weeks before it exits a 78-billion-euro ($108 billion) rescue programme. The successful bond market auction was crucial for the country, showing it can raise its own finances once the international bailout, extended three years ago, comes to an end on May 17. Portugal will be the second eurozone nation after Ireland to emerge from European Union-IMF bailouts, which have forced crisis-hit governments to apply deeply unpopular austerity measures so as to rein in bulging public deficits. Portugal raised 750 million euros in the auction of benchmark 10-year government bonds, offering a yield of 3.575 percent, according to the body that manages public debt, the IGCP. That was sharply down from the 5.112 percent yield offered in February when the Portuguese government sold 10-year bonds to investors via a syndicate of investment banks. Auditors from the EU and International Monetary Fund began a final health check on Portugal on the eve of the bond issue. Ordinary people, however, complain they will go on bearing the brunt of the budget-slimming measures imposed by the terms of the bailout. Those measures, including a new round being applied now, axed public spending, cut pensions and enforced structural reforms to make the economy more competitive and boost exports. The IMF warned on Monday that Portugal must broaden its commitment to budget discipline to ensure it can carry its debt load and retain the confidence of financial markets. The government is not yet saying how it intends to navigate out of the rescue programme next month. It could opt for a precautionary line of credit or take the route risked by Ireland four months ago -- an outright return to the debt market without any backup. The answer is expected before May 5, when eurozone finance ministers are set to approve Portugal's exit. Portugal is in the process of enacting new budget measures in line with the latest conditions laid down by the EU and IMF to generate savings of 1.4 billion euros next year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal raises €750m in key bond issue Arab Today, arab today portugal raises €750m in key bond issue

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal raises €750m in key bond issue Arab Today, arab today portugal raises €750m in key bond issue

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Writing's on the wall for Trump, Zuckerberg

GMT 09:05 2017 Thursday ,19 October

Writing's on the wall for Trump, Zuckerberg
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday