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Portugal conducts fresh meeting with international creditors

Published Updated

banksLISBON: Bailed-out euro-zone state Portugal will hold a fresh round of talks with its international creditors this week amid persistent concerns that it needs even more help to balance its strained public finances.

Officials from the 'troika' of the European Union, European Central Bank and the International Monetary Fund begin on Wednesday a two-week review of the economy, checking Portugal's progress since a 78 billion euro ($103 billion) bailout in 2011.

Having got through two previous rounds, Lisbon now waits to find out if it will get the next tranche of aid worth 14.9 billion euros as the pressure mounts on the government from popular unease.

On Saturday, hundreds of thousands protested against austerity measures adopted under the May 2011 bailout, carrying banners such as "The struggle continues" and "No to exploitation, no to inequality, no to impoverishment."

Copyright AFP (Agence France-Presse), 2012

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