LISBON: Portugal will pay off the rest of its outstanding bailout loan provided by the International Monetary Fund by the end of 2018, Prime Minister Antonio Costa said on Thursday.

He told parliament Portugal will make the early repayment of 4.6 billion euros ($5.24 billion) by the end of the year.

Portugal has been paying back early what it owes to the IMF under the Washington lender's participation in Portugal's 2011-14 bailout. The EU provided the majority of the funding to the 78-billion-euro aid package.

Copyright Reuters, 2018