1902 - 1936

Last updated on 20 November 2024

To meet the financing needs arising from the adopted budgetary and development policies, we present several loans related to Portugal's economic history.

 

In May 1902, the security titled "Fundo Externo Português 3% - 1902" was introduced. This title represented the conversion of previous loans, specifically the 3% Consolidated, 4% Amortizable from the 1888 issuance, and the 4½% Amortizable from the 1888 and 1889 issuances. This loan is commonly referred to as the "3% Conversion - 1902," which was issued in three series.

 

The year 1936 was pivotal for the Junta de Crédito Público (JCP), as it marked the publication of Law 1933, which initiated significant reforms within the organization, both regarding its services and the representation of public debt.

 

From this point on, the following forms of debt representation were accepted:

  • Bearer coupon securities, with offerings of one, five, and ten bonds;
  • Registered debt certificates, corresponding to any number of bonds;
  • Perpetual income certificates;
  • Life annuity certificates;
  • Certificates of property and suspended income.