Greece said to plan to sell off pension arrears to get cash upfront

Greece plans to sell billions of euros of social security contributions owed to its pension fund to private investors to get cash upfront and facilitate recovering other receivables, senior government officials told Reuters on Thursday.
The country's conservative government, which took over in July, is keen to boost investment inflows and fix major issues affecting economic recovery prospects, including bad loans plaguing the banking sector.
It is also looking at ways to repair the social security system's overall balance sheet to strengthen its viability.
"There is a strategy to sell arrears the state social security system has not managed to recover in past years," one of the government officials said.
The arrears represent social security payments for staff owed to pension funds by private companies in Greece, partly because of the country's debt crisis.
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