After completing the review of Portugal's progress in their economic program under the bailout, the International Monetary Fund decided to release the new tranche.

The IMF will immediately release around 3.98 billion euros to Portugal as part of its three-year bailout of 27.27 billion euros which with the European Union package amount to 78 billion euros.

The move from the IMF come after the August 12 decision from the EU, IMF, and ECB approval to provide the nation with 11.5 billion euros second tranche of the aid as the country continued to see progress in the austerity measures.