Akhir 27, 1432 H/April 1, 2011, SPA -- Portugal will continue seeking to raise funds on international debt markets to guarantee that the state has sufficient liquidity, the Finance Ministry said following a successful bond auction on Friday, dpa reported. Lisbon has come under growing pressure to seek a European Union- led financial rescue following Prime Minister Jose Socrates' resignation last week. President Anibal Cavaco Silva called early elections for June 5 on Thursday. Despite the political and economic turmoil, Portugal raised 1.6 billion euros (2.3 billion dollars) in one-year bonds on Friday. The 5.8 per cent yield was high compared to the 3.2 per cent interest at the last comparable auction in July 2010. It was, however, less high than had been expected. The auction was oversubscribed 1.4 times. The auction was "positive" given Portugal's "difficult political and economic context," the ministry said in a communique.
