Christos Staikouras

Finance minister says coronavirus has suspended planned bond issue

A rise in borrowing costs caused by the coronavirus has halted Greek plans to tap bond markets again this year, Finance Minister Christos Staikouras said on Friday.

Greece emerged from bailouts in 2018 after a decade-long debt crisis that locked it out of bond markets for years. It has since had several successful issues, including a 15-year bond in January.

Greece says coronavirus to drive economy into recession

Greece's economy will contract this year because of the coronavirus lockdown but the projected recession will be temporary, the finance minister said on Tuesday.

It was a rapid re-estimation as the minister had projected eight days ago that the economy would weather the coronavirus storm and grow just over 0 percent.

Shield for business and labor

At least 50 percent of enterprises in Greece are hurting due to the crisis caused by new coronavirus, according to data presented by Finance Minister Christos Staikouras on Friday. In total, 440,000 corporations employing about 1 million workers with a turnover of 6.5 billion euros per year are showing a reduction in their financial figures, State General Accounting Office figures indicate.

Health workers to receive Easter bonus; banks to defer loan payments

Presenting a new batch of economic measures to limit the impact of the coronavirus outbreak on businesses and tax payers, Finance Minister Christos Staikouras on Friday said employees in the wider national healthcare system who are in the frontline of the fight against the epidemic will be paid the Easter bonus - a benefit abolished in the public sector during the economic crisis.

Package of 3.8 bln euros to keep Greek economy afloat

The government on Wednesday announced a 3.8-billion-euro package of measures to soften the blow to the economy from the coronavirus epidemic. The package aims to support workers, the self-employed and enterprises, as the first mass layoffs have already been recorded and the risk of a painful recession is looming large.

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