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Saturday, January 5, 2013

Portugal does not need debt restructuring: IMF's Lagarde

IMF chief Christine Lagarde and Chile's Finance Minister Felipe Larrain deliver a news conference in SantiagoLISBON (Reuters) - Any restructuring of Portugal's debt is out of the question and the country's bailout program is progressing well, the head of the International Monetary Fund said on Saturday. IMF chief Christine Lagarde told Portuguese weekly Expresso that she was also confident Portugal would not follow Greece into a spiral of economic recession. The European Union and IMF gave Portugal a 78-billion-euro ($102-billion) bailout in 2011 and the lenders have praised the country for meeting most of their terms. ...



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