The Portuguese Republic made an early repayment of two instalments of the IMF loan designed under the Economic and Financial Adjustment Programme, wrote the Finance Ministry in a note.
This payment amounted to around EUR 2.068 billion and was carried out in two instalments.
This early repayment represents 11% of the outstanding IMF loan (amounting to around EUR 18.853 billion).
To date, 42.6% of the initial loan has been already repaid.
This early amortization accounts to a loan originally due on september 2018 and february 2019.
The estimated net interest savings amount to EUR 41 million. This value is based on the comparison between this year's cost of funding and the cost of the original loan.