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Publish Date : 26-Oct-2012

The International Monetary Fund released Wednesday a 1.5 billion euro (US$1.9 billion) loan installment to Portugal, after a review of its progress under a bailout program.

\"The Executive Board of the International Monetary Fund today completed the fifth review of Portugal\'s performance under an economic program\" supported by a three-year loan of 28.2 billion euros, the IMF said in a brief statement.

The Washington-based institution said it would publish its staff report on the fifth review of Portugal\'s program Thursday.

In May 2011, Portugal was rescued from a threat of default with a combined IMF-European Union that totaled 78 billion euros.

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