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May 26, 2017

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Portugal likely to make clean exit from bailout program: PM Coelho

LISBON--Portugal's prime minister on Thursday gave his clearest indication yet that the country will follow Ireland's example by exiting its 78-billion-euro (US$110 billion) international bailout without a credit lifeline.

"The path Portugal has followed until now will today allow us to go forward on our own means," Pedro Passos Coelho said during a speech in Lisbon to mark Labor Day.

A clean exit for Portugal would mark a remarkable turnaround from a year ago, when the country was gripped by a deep political crisis over its austerity measures that dented investor confidence.

Lisbon will officially announce its decision before May 5, when eurozone finance ministers will meet.

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