Portugal places 1.5 billion euros in short-term treasury billsStaff 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:
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. ■