Arab Today, arab today portugal pays high rates to borrow 1 bn euros
Last Updated : GMT 05:37:54
Arab Today, arab today
Arab Today, arab today

Portugal pays high rates to borrow 1 bn euros

Arab Today, arab today

Arab Today, arab today Portugal pays high rates to borrow 1 bn euros

Lisbon - AFP

Portugal, negotiating a debt rescue with the EU and IMF, raised one billion euros ($695 million) on Wednesday but had to pay sharply increased interest rates as markets demanded record returns. Even as Lisbon raised short-term funds, sceptical investors were adding to the pressure on the government by pushing 10-year bond yields to record highs, reflecting their doubts that Portugal\'s public finances can be stabilised. In midday trading, the yield -- the rate of return for the buyer or holder of existing debt -- on the benchmark 10-year government bond jumped to 9.025 percent, the first time it has topped 9.0 percent since the eurozone was set up. The yield on the 10-year bond was at 8.950 percent on Tuesday. Rates above 6.0 percent for 10-year bonds are seen as very high and sustainable for only a short period of time. By comparison, rates on German 10-year bonds are about 3.28 percent, reflecting investor confidence in the eurozone\'s strongest economy. Earlier on Wednesday, the government sold 320 million euros in 6-month bills at a yield of 5.529 percent, up sharply from the 5.117 percent paid at a similar sale on April 6. It also sold 680 million euros in 3-month bills at 4.046 percent, up from the 3.403 percent paid on December 15, the public debt office said. The debt office aimed to raise between 750 million and one billion euros, with the 6-month offer attracting bids worth 3.7 times the amount for sale. For the 3-month bills, demand was double the amount on offer. Although the government managed to raise the funds it wanted on Wednesday, the rates it had to pay were very high for such short-term debt, reflecting continued concerns over the state of Portugal\'s strained public finances. Laurent Geronimi at Swiss Life Gestion Privee said that the rates paid on the 3 and 6-month bills were up sharply compared with previous sales.The markets had many doubts about the EU-IMF talks, he said, noting possible political problems in winning approval for a Lisbon package after recent polls in both Germany and Finland. After Greece and Ireland last year, Portugal had to call in the EU and International Monetary Fund at the beginning of the month to negotiate a debt rescue when faced with paying exorbitant rates on longer-term funds. The debt rescue talks with the EU and IMF, who have said they will demand tough conditions for any funding, are supposed to close by mid-May, ahead of Portugal\'s general election on June 5. Lisbon has to have the package in place by June 15 when it has to repay nearly 5.0 billion euros in maturing debt.

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 pays high rates to borrow 1 bn euros Arab Today, arab today portugal pays high rates to borrow 1 bn euros

 



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 pays high rates to borrow 1 bn euros Arab Today, arab today portugal pays high rates to borrow 1 bn euros

 



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 Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
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 France opens door to post-2025 talks

GMT 05:16 2017 Wednesday ,20 September

France opens door to post-2025 talks
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
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 Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

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