Debt

As of Thursday all small and medium-sized businesses have access to up to 75% cheaper loans compared to the average interest rate applying today, which is between 7% and 9%, through the three new funds launched by the Hellenic Development Bank (HDB), becoming available by all commercial banks.

The United Nations has demanded a tripling of pledges aimed at filling the global digitalisation gap, asking countries and the private sector to hike the funding to $100 billion by 2026.    

Around 2.7 billion people around the world were offline in 2022, according to data from the International Telecommunications Union, the UN's telecoms agency.    

The participation of tax and social security debtors in the 72- or 120-installment arrangements is increasing gradually, but without recording any significant performance. Applications are still low, but lately there seems to be a bit more interest.

Since July 2022, lending rates in Cyprus have risen by 3.5%, putting borrowers in a tough position with dangerously increasing loan repayments. Banks are now searching for ways to alleviate the situation, and they may have found a way to offer some "breathing space" to borrowers with mortgages.

The Public Debt Management Agency (PDMA) is auctioning 13-week treasury bills to the amount of 625 million euros in book entry form on Wednesday, with maturity on August 4.

The settlement date is this Friday.

Greece has not yet obtained investment grade because, obviously, the elections are coming up, the director of the economic office of the prime minister, Alex Patelis, said at the Delphi Economic Forum this week.

Greece will reopen a 10-year issue on Wednesday, seeking to raise up to 300 million euros from the market. 

The 10-year bond issue offers a coupon of 4.25% and has a maturity date of June 16, 2033. The settlement date will be Wednesday, April 26. 

Some 200,000 businesses and individuals with debts to the state have been given two options: Either rejoin the 72- or 120-installment arrangements, or face confiscations.

Türkiye's short-term external debt stock stood at $153.1 billion at the end of February, indicating an increase of 3.1 percent compared to the end of 2022, according to data from the Central Bank.

The International Monetary Fund sees Greece returning to fiscal consolidation, with systematic achievement of primary surpluses and debt deleveraging in the coming years, per its spring fiscal report, published on Wednesday.