July 11, 2013 / 7:57 PM / 6 years ago

Portugal requests delay of bailout review due to crisis

Portuguese flags are seen on the meeting room where delegations of the Social Democrat Party and the Popular Party met to set a government coalition agreement in Lisbon in this file photo taken June 16, 2011. REUTERS/Jose Manuel Ribeiro

LISBON (Reuters) - Portugal’s government has requested a delay in the next regular review of the country’s bailout by its creditors due to the “current political situation,” the finance ministry said on Thursday.

The delay is one of the first direct effects on the country’s 78-billion-euro bailout caused by a political crisis which erupted last week with the resignation of the finance and foreign ministers.

The finance ministry said in a statement the 8th and 9th reviews of the economy by officials from the European Commission, European Central Bank and IMF will now take place jointly at the end of August and early September.

The next review was originally scheduled to start on Monday, July 15.

Reporting By Axel Bugge and Daniel Alvarenga

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