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IMF approves 1.48 billion euro disbursement to Portugal
July 16, 2012 / 9:44 PM / in 5 years

IMF approves 1.48 billion euro disbursement to Portugal

WASHINGTON, July 16 (Reuters) - The International Monetary Fund on Monday approved a 1.48 billion euro ($1.81 billion) loan disbursement to Portugal under the country’s international bailout and said it was important for Lisbon to maintain its commitment to strong policies and reforms.

The IMF said Portugal’s end-2012 fiscal target “remains within reach” but cautioned that weaker revenues meant that risks had increased that the country would miss the target.

It called for “requiring close monitoring of developments and continued efforts to strengthen tax compliance”.

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