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Portugal raises 1.25 bln euros in bond auction

English.news.cn   2014-02-20 08:25:08

LISBON, Feb. 19 (Xinhua) -- Portugal's national debt management agency IGCP on Wednesday successfully auctioned a total of 1.25 billion euros in bonds of three and 12 months.

According to the IGCP, among the total bonds auctioned, the 250 million euros was of three-month while the 1 billion euros was of 12-month. Demands for these two bonds exceeded far more than supplies.

On Feb. 11, Portugal successfully auctioned 3 billion euros in 10-year bonds to demonstrate its lukewarm economic recovery.

The debt-laden country was bailed out by the troika comprising the European Commission, the International Monetary Fund and the European Central Bank in May 2011 and is attempting a full return to the world financial market before its bailout program ends in June this year.

Under the 78 billion euro bailout agreement with the troika, Portugal has been implementing a tough austerity policy which has been blamed for the deepening recession and has also sparked strong discontent among the general public.

However, Portugal has seen an early sign of economic recovery emerged in the second half of last year and the Portuguese government is confident that the country will be able to exit the bailout program as scheduled. It is yet to know whether the government needs precautionary loans after the exit.

Editor: chengyang
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