Debt
Bad private dues outsize GDP
The overdue debt owed by Greeks to the state and financial institutions - i.e. banks and funds - is more than the country's gross domestic product, reaching 224.2 billion euros.
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Credit expansion of 4% is expected for this and next year
The Greek banking sector will see this and next year a credit expansion of 4% per annum, per Eurobank Equities, ensuring resilience in interest income and profitability for Greek banks.
This is ahead of the imminent reduction of interest rates by the ECB, expected to start from the second quarter of this year.
Three goals in public debt management
Reducing the ratio of debt-to-gross domestic product at the fastest rate in Europe, achieving higher positions in the rating agencies' scales and further reducing the cost of servicing the country's borrowing, are the three main objectives set by the financial staff for the crucial issue of managing the Greek debt.
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Private debt still a threat in Cyprus
The European Commission has reiterated warnings concerning the significant challenges posed to the Cypriot economy from private debt, as it has done before in regular post-program or post-memorandum reports.
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Debt Check: Bulgaria's External Liabilities Dip Below EUR 42.5 Million
Bulgaria's Gross External Debt stood at approximately EUR 42,410 million by the end of October 2023, marking a 3.7% decrease from the same period in 2022, according to data released by the Bulgarian National Bank (BNB).
Economy seen resilient despite challenges
Greece retains the capacity to service its debt, noted the European Commission's third Post-Program Surveillance Report released on Thursday.
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New burden on the debt from 2033
In nine years, when Greece enters 2033, it will be faced with a problem going back to its bailout past: The public debt will suddenly be burdened with an extra 25 billion euros, or 8% of the then GDP, as the interest on loans from 2013, which has been frozen for almost two decades as part of debt relief arrangements with its European lenders, will be added to it.
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Quarter of arranged loans turn bad
According to data from the union of loan and credit management companies (servicers), out of the total of 86 billion euros, the arrangements that have been made to date concern €25.5 billion and of these the arrangements that are being adhered to do not exceed €19 billion.
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Auctions avoided with advance payment of 10% of debt
A new boost is expected for the out-of-court mechanism for debt settlement, after the improvement regulations incorporated in the new law passed on Tuesday by Parliament.
An amendment provides that creditors are given the possibility to request an advance payment of up to 10% of the debt, as shown by the calculation tool of the extrajudicial mechanism.
Bonds hit 16-month high
Greek bonds outperformed their eurozone counterparts considerably on Monday, with the 5-year Greek note even matching Spanish paper, having received a boost from Greece's upgrade by Fitch Ratings on Friday night.
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