Portugal’s hopes of returning to government bond markets next year have been boosted by a firm endorsement of its financing plans by the International Monetary Fund.

Abebe Selassie, head of the IMF mission to Portugal, said Lisbon had presented international lenders with a credible plan to regain market access by next September.

He said in the event of increased market stresses hitting peripheral euro zone countries, European leaders had “always said that they are ready to support Portugal in market access”.

The IMF also expected the ECB “to play a very helpful role” in Portugal’s return to the markets with its plans to assist struggling euro zone economies by buying government bonds.