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Portugal places 1.5 billion euros in short-term treasury bills

Staff Writer | May 18, 2017
Portugal placed a total of 1.5 billion euros in six- and 12-month treasury bills on Wednesday at more negative average yields than previous comparable auctions, the Portuguese Treasure and Debt Management Agecy (IGCP) announced.
Europe   The Portuguese treasure:
Portugal placed 1 billion euros in 12-month bills at an average yield minus 0.153 percent against minus 0.112 percent in a similar auction on March 15 this year.

The country also auctioned 500 million euros in six-month bills at an average yield of minus 0.210 percent against minus 0.158 percent in a similar auction on the same day.

Portugal's Socialist government, which came to power in November 2015, has been reversing austerity measures imposed by the previous administration following a 78-billion-euro (84.76 billion U.S. dollars) bailout in 2011.

The Portuguese economy grew 1.2 percent of GDP last year and public debt surpassed 130 percent.