PDMA about to reopen 10-year issue

Greece's 10-year bond that was issued last March is to be reopened next week in a bid to enhance the liquidity of the bond market after the rapid decline in Greek debt yields to historic lows.

A meeting on Thursday between officials of the Finance Ministry and the Public Debt Management Agency led to the decision for the Greek state to make that move to raise 1-2 billion euros and capitalize on the currently favorable climate for Greece and the very positive prospects in the international bond market. This is despite having covered the borrowing program for 2019 with the year's first three issues, the last having been the seven-year paper in July.

The monetary policy of the European Central Bank with the start of its new bond-buying program (QE) in November, the increasingly negative deposit rates and fears about the global economy are factors that analysts say will...