IMF releases 1.5 bn euro loan tranche to Portugal

The International Monetary Fund released Wednesday a 1.5 billion euro ($1.9 billion) loan installment to Portugal, after a review of its progress under a bailout program.

"The Executive Board of the International Monetary Fund today completed the fifth review of Portugal's performance under an economic program" supported by a three-year loan of 28.2 billion euros, the IMF said in a brief statement.