Dominion Lending Centres Clearlease Reports IMF approves 26 billion euro loan for Portugal
VANCOUVER, BC (May 20, 2011) Clearlease The International Monetary Fund (IMF) on Friday May 20, 2011 approved a 26 billion euro ($37 billion) loan for Portugal, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the eurozone member’s debts.
The IMF said in a statement, total financing to Portugal in 2011 will include about 12.6 billion euros from the IMF and another 25.2 billion euros from the European Union. The funding is part of a joint IMF/EU 78 billion euro bailout package.
“The financing package is designed to allow Portugal some breathing space from borrowing in the markets while it demonstrates implementation of the policy steps needed to get the economy back on track,” the IMF said in a statement.
Under the agreement, Lisbon will have to carry out steep spending cuts, raise taxes, reform its labor and justice systems, and embark on an ambitious privatization scheme.
“The Portuguese authorities have put forward a program that is economically well-balanced and has growth and job creation at its center,” IMF Acting Managing Director John Lipsky said.
“It addresses the fundamental problem in Portugal – low growth – with a policy mix based on restoring competitiveness through structural reforms, ensuring a balanced fiscal consolidation path, and stabilizing the financial sector,” he added
The deal follows a 110-billion euro package for Greece last May and an 85-billion-euro program for Ireland in November. Portugal’s arrangement is the first time a country has asked private investors not to sell down their holdings of bonds on a voluntary basis.
The leader of Portugal’s opposition Social Democrats, Pedro Passos Coelho, warned on Thursday the country has no room for failure in meeting the austerity conditions of the program.
The austerity measures included in the bailout are expected to contribute to a contraction in the Portuguese economy of two percent both this year and next.
Lipsky said the support from Portugal’s main political parties for objectives and policies under the program indicates a “resolve to tackle the Portugal’s long standing problems.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC (May 20, 2011) Clearlease The International Monetary Fund (IMF) on Friday May 20, 2011 approved a 26 billion euro ($37 billion) loan for Portugal, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the eurozone member’s debts.
The IMF said in a statement, total financing to Portugal in 2011 will include about 12.6 billion euros from the IMF and another 25.2 billion euros from the European Union. The funding is part of a joint IMF/EU 78 billion euro bailout package.
“The financing package is designed to allow Portugal some breathing space from borrowing in the markets while it demonstrates implementation of the policy steps needed to get the economy back on track,” the IMF said in a statement.
Under the agreement, Lisbon will have to carry out steep spending cuts, raise taxes, reform its labor and justice systems, and embark on an ambitious privatization scheme.
“The Portuguese authorities have put forward a program that is economically well-balanced and has growth and job creation at its center,” IMF Acting Managing Director John Lipsky said.
“It addresses the fundamental problem in Portugal – low growth – with a policy mix based on restoring competitiveness through structural reforms, ensuring a balanced fiscal consolidation path, and stabilizing the financial sector,” he added
The deal follows a 110-billion euro package for Greece last May and an 85-billion-euro program for Ireland in November. Portugal’s arrangement is the first time a country has asked private investors not to sell down their holdings of bonds on a voluntary basis.
The leader of Portugal’s opposition Social Democrats, Pedro Passos Coelho, warned on Thursday the country has no room for failure in meeting the austerity conditions of the program.
The austerity measures included in the bailout are expected to contribute to a contraction in the Portuguese economy of two percent both this year and next.
Lipsky said the support from Portugal’s main political parties for objectives and policies under the program indicates a “resolve to tackle the Portugal’s long standing problems.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports IMF approves 26 billion euro loan for Portugal
VANCOUVER, BC (May 20, 2011) Clearlease The International Monetary Fund (IMF) on Friday May 20, 2011 approved a 26 billion euro ($37 billion) loan for Portugal, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the eurozone member’s debts.
The IMF said in a statement, total financing to Portugal in 2011 will include about 12.6 billion euros from the IMF and another 25.2 billion euros from the European Union. The funding is part of a joint IMF/EU 78 billion euro bailout package.
“The financing package is designed to allow Portugal some breathing space from borrowing in the markets while it demonstrates implementation of the policy steps needed to get the economy back on track,” the IMF said in a statement.
Under the agreement, Lisbon will have to carry out steep spending cuts, raise taxes, reform its labor and justice systems, and embark on an ambitious privatization scheme.
“The Portuguese authorities have put forward a program that is economically well-balanced and has growth and job creation at its center,” IMF Acting Managing Director John Lipsky said.
“It addresses the fundamental problem in Portugal – low growth – with a policy mix based on restoring competitiveness through structural reforms, ensuring a balanced fiscal consolidation path, and stabilizing the financial sector,” he added
The deal follows a 110-billion euro package for Greece last May and an 85-billion-euro program for Ireland in November. Portugal’s arrangement is the first time a country has asked private investors not to sell down their holdings of bonds on a voluntary basis.
The leader of Portugal’s opposition Social Democrats, Pedro Passos Coelho, warned on Thursday the country has no room for failure in meeting the austerity conditions of the program.
The austerity measures included in the bailout are expected to contribute to a contraction in the Portuguese economy of two percent both this year and next.
Lipsky said the support from Portugal’s main political parties for objectives and policies under the program indicates a “resolve to tackle the Portugal’s long standing problems.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk