Portugal passes fourth review of EU-IMF bailout

Note: This section contains information in English only.
Source: BBC News
A fourth review of Portugal's spending cuts and reforms has been passed. As Portugal had satisfied all the bailout requirements, it is now awaiting for a transfer of 4bn euros. Overall, the bailout sums up to 78bn euros. 6.65bn euros will be injected into three banks for liquidity provision purposes. Two of the recipients, BCP and BPI, are private banks and one, CGD, is state-owned and therefore does not qualify for bailout money. 1bn euros will be transferred there from other government funds.

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