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Spain’s Defense Minstry May Extend Payments, Cinco Dias Says

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Oct. 20 (Bloomberg) -- Spain’s Defense Ministry has proposed measures, including an extension of payments from 5 to 15 years, as a way to improve its financial situation, Cinco Dias said, citing reports sent by the ministry to parliament.

The ministry, which has 26.5 billion euros ($36.3 billion) of debt due to weapon purchasing programs, would extend its payments calendar to 2030, five more years than the current calendar, or even as many as 15 years more till 2040, the newspaper said.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net