Government debt

In historic first, Greek debt carries negative interest rate

More than a year after Greece exited its bailout programs, investors - in a historic first - have bought its short-term debt at a loss.

The country's debt management agency said Wednesday it raised 487.5 million euros ($535 million) selling 13-week treasury bills, for which the yield was -0.02 percent.

Greece aims for strong economic growth, tax cuts in 2020

Greece hopes higher investment and tax cuts will help power economic growth next year as the country recovers from a decade-long debt crisis.
Growth will pick up to at least 2.8 percent next year from 2 percent in 2019, according to a draft budget submitted to Parliament by the conservative government on Monday.

Greek gov't prepares proposals to plug fiscal gap

The government is preparing a convincing package of measures to lead to the reduction of next year's fiscal gap, estimated at 0.5 percent of gross domestic product. As one eurozone official said, Greece will have to complete and forward its draft budget, complete with the bridging of that gap, by October 15.

T-bill auction oversubscribed 2.44 times

The Public Debt Management Agency (PDMA) on Wednesday announced it had successful auctioned 26-week treasury bills, with the desired amount of 625 million euros oversubscribed 2.44 times, leading to a particularly low interest rate of 0.097 percent, compared to a rate of 0.150 percent at the previous auction in late August.
The settlement date is Friday.

Mission chiefs express reservations on 2020 budget at EWG

At Thursday's Euro Working Group the creditors' mission chiefs reported that their visit to Athens this week had taken place amid a positive climate. However, they also expressed reservations regarding the achievement of the target for a primary surplus of 3.5 percent of gross domestic product next year.