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Portugal set to get bailout nod
Portugal will today present the results of the third “troika” review of its performance under a €78bn bailout and is expected to glean high marks for economic reform and cost-cutting efforts. European Union, European Central Bank and IMF officials have spent about two weeks in Lisbon carrying out the review and are likely to give a positive assessment, approving payment of the next €14bn tranche of the bailout. An increasing number of economists say Portugal may need more emergency funding or even be forced eventually to restructure its debts like Athens, but the government has ruled that out.