The Greek state is expanding its cash reserves by 3 billion euros - to be used for battling the new crisis stemming from the coronavirus pandemic and to support the Finance Ministry's fiscal measures - after Tuesday's 10-year bond issue; in terms of the amount drawn, this was the biggest since 2017, when Greece had also raised €3 billion, through a five-year bond issue.
Standard & Poor's rating agency on May 6 affirmed Turkey's long-term foreign currency sovereign credit rating at B+ and long-term local currency sovereign credit rating at BB-.
The outlook is stable, said the agency in a statement. It also affirmed the country's short-term foreign and local currency sovereign credit ratings at B.
Greece achieved a marginally improved interest rate at Wednesday's auction of 13-week treasury bills compared to a similar auction a month earlier, while raising a much greater amount of cash.
According to Public Debt Management Agency data, Greece raised 812.5 million euros with an interest rate of 0.28 percent, after receiving offers of 1.152 billion euros.
Many small and medium-sized companies will disappear, undoubtedly, but a government is responsible for the health of each of its citizens, not for the survival of each SME or every enterprise, especially in a market economy, Valentin Lazea, chief-economist of the National Bank of Romania (BNR), said in a specialized video-conference on Tuesday.
Estimates pointing to a deep recession in Greece this year and a steep rise in the national debt as a result of measures to contain the coronavirus pandemic are generating questions about what will happen once the crisis subsides and raising new debt sustainability concerns. Economists asked by Kathimerini stress that Greece is armed with weapons it did not have before.