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IMF to continue negotiations with Portugal on bailout

04-29-2011 13:55 BJT

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In Europe, a spokesman for the IMF said on Thursday that negotiations with Portugal on a bailout program would continue for as long as necessary.

A team of representatives from the IMF, the European Central Bank and the European Union will meet with the Portuguese caretaker government in Lisbon to hash out a financial rescue package. Separately, the IMF said a mission would travel to Greece in early May to evaluate the progress of ITS bailout. Despite market speculation about debt restructuring, the IMF said that was NOT on the agenda. Instead, the IMF, ECB and EU say they will focus on the government's plans to get its deficit under control and funding plans for the country's banks.

David Hawley, Senior Advisor External relations, International Monetary Fund said "We're going to look at several key policy milestones including the medium term fiscal strategy, the authorities plan for privatization and real estate development and banks medium term funding plans."

Editor:Xiong Qu |Source: CNTV.CN

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