Portugal raises 1.25bn euros in debt but rates rise sharply Portugal placed 1.25 billion euros ($1.67 billion) in short-term debt on Wednesday but at sharply higher rates amid disagreement with creditors over deficit cutting targets. Auditors from the International Monetary Fund, the European Commission and the European Central Bank are currently in Lisbon to review Portugal's progress under its 78-billion-euro bailout and whether to release a 5.5-billion-euro loan instalment. Images