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The Council approved providing Portugal with a financial assistance package totaling €78 billion, including €52 billion in loans from the EU and €26 billion from the IMF. The loans from the EU will have an average maturity of 7.5 years and interest rates similar to IMF loans. The assistance is contingent on Portugal implementing economic reforms over three years focused on fiscal consolidation, boosting growth and competitiveness, and restructuring the banking sector.
- Author
- Zim Vicom
- Language
- EN