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Financials

Portugal doesn't need another bailout - German finance ministry

BERLIN, March 4 (Reuters) - The German Finance Ministry said on Friday that Portugal did not need to take another rescue package from the European Stability Mechanism, the euro zone’s bailout fund.

“There is no need for a new ESM rescue programme,” a spokeswoman for the finance ministry said in an emailed statement.

She said that Portugal had, during its 2011-2014 bailout from the European Union and International Monetary Fund (IMF), begun implementing successful structural reforms to improve its competitiveness and the health of public finances.

“It’s important that the current government continues with these successful economic policies,” she added. (Reporting by Matthias Sobolewski; Writing by Michelle Martin; Editing by Michael Nienaber)

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