The EU, ECB and IMF 'troika' of Portugal's creditors today gave the green light for an €11.5 billion second tranche of debt aid as part of Portugal's bail-out plan.
'The programme is in our view on track,' the troika said in a statement. 'The approval of the conclusions of the current evaluation justifies the unblocking of the €11.5 billion tranche,' it added.
Portuguese Finance Minister Vitor Gaspar said earlier that creditors from the European Union, European Central Bank and the International Monetary Fund were satisfied with Portugal's implementation of its debt bail-out plan agreed in May.
'It is with satisfaction that I note the positive evaluation of the mission,' Gaspar said in a statement read to the press. 'The mission highlighted the government's determination to implement the programme adopted in May,' he said.
Portugal received a €78 billion bail-out from the European Union and International Monetary Fund earlier this year and agreed in return to stringent budget measures to scale back state spending.
