WASHINGTON - the Monetary Fund International has approved providing Portugal 36.8 billion plan to rescue to help tackle its economic problems country and debt.
Package 111 billion total, and approved by the European Finance Ministers earlier this week. The IMF provides a third of the sum and the EU, two-thirds.
The IMF said that the package is designed to allow certain borrowing on financial markets Portugal respite while it implements of political measures to get its economy on track.
The Director of the IMF, John Lipsky, said Friday that the Portuguese authorities have put forward a program that is economically well balanced and growth and creating jobs in its Centre.
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