LISBON: EU and IMF terms for a bailout of Portugal, which could reach 80 billion euros, will be ready and submitted to the government by the end of the week, the Expresso weekly reported on Wednesday.
Expresso, which did not cite any sources, reported on its website that a mission of officials from the European Union and International Monetary Fund visiting Lisbon wants the government and opposition parties to approve the terms by May 4.
Portugal this month became the third euro zone country to seek foreign aid, following Greece and Ireland, after the minority government collapsed in March, sending the heavily indebted country's borrowing costs soaring.
An IMF spokeswoman said she would not comment on speculation. Portuguese government officials were not immediately available to comment.
Officials from the European Commission, the European Central Bank and IMF arrived in Lisbon earlier this month to go over Portugal's accounts and establish terms for a loan.
The terms could include austerity measures like those seen in Greece and Ireland, where taxes have been raised and public sector salaries cut. Reforms of Portugal's labour market may also be included to boost competitiveness.
Prime Minister Jose Socrates resigned last month after the opposition rejected austerity measures proposed by his minority Socialist government. His caretaker government will remain in power until an early general election called for June 5.
Socrates is leading the talks with the bailout team and also coordinating efforts to obtain approval for the aid package from other parties, particularly the main opposition Social Democrats.
Finance Minister Fernando Teixeira dos Santos has said he hopes the European Union will approve the loan by mid-May.
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