Portugal may only have €4 billion of the €20 billion it needs to make debt payments in 2011, according to an email from the country's debt management office, seen by MarketWatch.
On April 15, Portugal has a bill of €4 billion to pay on one long-term bond alone. That leaves the country €16 billion short to meet other payments in 2011.
Yields on the country's sovereign debt remain near record levels, though have come slightly of their peak.
Most worrying: The country only had €2 billion at the end of 2010 and it remains uncertain if the country actually has this additional €2 billion or not.
This is likely to put more pressure on the country to tap EU-IMF support, thought Portugal may be trying to wait it out for a better interest rate after leaders come to some sort of deal later this month.
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