Portugal has insisted it can cope with looming debt repayments, despite predictions from analysts it does not have enough money to meet its obligations.
The nation faces around €9bn (£7.9bn) in bond redemptions by June, but analysts at Barclays Capital estimate it currently has no more than €5bn in cash, the Telegraph reports. They says: "Portugal needs to find financing in the coming weeks in some way. In our opinion, Portugal is likely to find financing, but it is not in a comfortable position." However, Portugal's treasury secretary Carlos Costa Pina has denied the claims, saying the country can meet its commitments for 2011 "especially the redemptions of long-term debt that will take place in April and June". Read more here ...
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