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Economy
S&P awards investment grade, bringing arduous cycle for economy to a close S&P became on Friday the first of the three leading rating agencies that restored Greece to investment grade, bringing to a close an arduous period for the country that started at the end of 2009 and was sealed with the signature of the first adjustment programme with the eurozone and the IMF in May 2010.
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EconomyMacroeconomy![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF forecasts high primary surpluses, tempers growth expectations At the annual meetings of the IMF and the World Bank currently being held in Morocco, the Fund presented its latest global economic and fiscal estimates.
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Economy
Return to investment grade overshadowed by flood destruction The Greek authorities and particularly the government must have had different plans in response to Friday’s move by DBRS to upgrade Greece’s credit rating to investment grade, a rating that it lost 13 years ago as the debt crisis was unfolding and led to three successive adjustment programmes.
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EconomyMacroeconomy
New bonds drive up central government debt by 3 bln to 404.69 bln in Q2 Greece’s central government debt recorded a sizable rise of over 3 billion euros to 404.69 billion euros in Q2 2023, the Finance Ministry's (MoF) debt bulletin showed on Friday.
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Economy
Scope Ratings second to give Greece investment grade as attention turns to key players from Sep After the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four agencies that the ECB has endorsed for its policy decisions.
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EconomyMacroeconomy
New 15-yr issuance and bond switch smooth maturity profile further, although at steep yield Greece completed on Tuesday its third syndicated transaction of the year with a 3.5 billion euros 15-year bond with a coupon of 4.375 pct.
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Economy Bond re-opening with 4 pct yield completes debt strategy for year The PDMA took another cautious step on Wednesday by completing the debt strategy for the year with a small re-opening of the issuance that matures in January 2042, also rounding up the re-opening schedule for the second quarter.
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EconomyMacroeconomy
EC reports highlight tight fiscal path and economic challenges The European Commission published on Wednesday two key reports, one was in the context of the 2023 spring recommendations and the other was the second report of the post-enhanced surveillance period.
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EconomyMacroeconomy
Central debt records small rise to 401.53 bln in Q1 Greece’s central government debt recorded a rise of 1.3 billion euros to 401.53 billion euros in Q1 2023, the Finance Ministry's (MoF) debt bulletin showed on Friday.
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Economy
PDMA nears completion of annual debt strategy, taking another cautious step Greece’s debt managers have taken the next step in their borrowing strategy for this year by re-opening two bonds on Wednesday that fetched 400 million euros collectively.