Troika checks Portugal's progress

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Troika checks Portugal's progress

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Portugal’s international lenders are in Lisbon to check progress on the country’s 78 billion euro bailout programme.

Inspectors from the so-called Troika – the European Commission, International Monetary Fund and the European Central Bank – are assessing what additional risks there’d be if Greece leaves the euro.

Another focus is on the slow privatisation of the heavily indebted public transport sector, including airline TAP, the airports authority ANA – Aeroportos de Portugal – and CP, which runs the national railway.

A source close to the evaluation mission told Reuters the team will try to separate Portugal’s own performance, which has been lauded so far by the “troika” of lenders, from the worsening European economic situation.

“The troika will focus on separating the progress within the bailout framework from international developments. Otherwise there would be too many parameters to be taken into account, and the mission would never get out of here,” the source added.

It will be the Troika’s fourth quarterly evaluation of Portugal’s bailout programme, which began a year ago.

Portugal remains the euro zone’s second-most risky country after Greece.