Fiscal policy

After rating upgrade, Greece announces 15-year bond issue

Greece on Monday announced that it had appointed banks for a new 15-year bond issue after its credit rating was upgraded by one of the three main rating agencies. 

It will be the first time Greece is tapping with a markets whose expiry date is after 2032, the year in which long-term measures for the relief of Greece's debt burden are due to expire.  

Global debt hits record $253 trillion

The global debt-to-GDP ratio hit a new all-time high of over 322 percent in the third quarter of 2019, with total debt reaching close to a record $253 trillion, the Institute of International Finance (IIF) has said.

Total debt across the household, government, financial and non-financial corporate sectors surged by some $9 trillion in the first three quarters of last year.

Greece retains negative yield in first debt auction of year

Greece has raised 487.5 million euros ($544.4 million) in a treasury bill sale that saw the country maintain its negative interest rate in the first debt auction of the year as the debt-strapped country attempts to regain full market access.

The Public Debt Management Agency said the 13-week T-bills were auctioned Wednesday at a yield of -0.08 percent.

PDMA auctions six-month treasury bills at zero yield

Greece raised 1.3 billion euros in the last treasury bill auction for 2019 at zero yield, the country's Public Debt Management Agency (PDMA) said on Tuesday in a statement.
The 26-week treasury bills were sold at zero percent compared to a minus 0.02 percent yield in the previous similar auction held on December 4, according to the statement.

Debt management agency to raise 4-8 bln euros from markets in 2020

Greece's Public Debt Management Agency (PDMA) is expected to raise between 4 and 8 billion euros in 2020, the agency said in a report released Tuesday, adding it will maintain the current level of cash reserves.

PDMA said state funding for next year will focus on the continuous presence in the international debt markets, accompanied by the reduction in debt stock.

More early IMF loan payments

The Public Debt Management Agency is targeting more early loan repayments to the International Monetary Fund next year if the interest cost makes financial sense and the country's creditors agree, Kathimerini understands. Its loan strategy for 2020 also includes a significant reduction of treasury bills.

Fitch Affirms Romania at 'BBB-'; Outlook Stable

Fitch Ratings has affirmed Romania's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, according to a Friday release of the credit ratings and research agency. Romania's Country Ceiling was affirmed at 'BBB+', Short-Term Foreign-Currency IDR affirmed at 'F3' and Short-Term Local-Currency IDR affirmed at 'F3', according to the release.

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