Finance Ministry grapples with escalating cost of pandemic
Pandemic drove 28.4 bln of bank loans into moratorium last year
Fitch keeps Greece at 'BB' rating as risks remain on horizon
PDMA highlights improving debt profile, targets 8-12 bln in new issues for 2021
BoG insists on need for bad bank, sees EU funds boosting recovery from 2021
Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
Athens welcomes volume, form of Commission's pandemic recovery plan
There was a pleasant surprise for Greece on Wednesday when the European Commission announced its proposal for a Recovery and Resilience Facility (RRF) of 750 billion euros, which will be attached to the 1.1 trillion euros multi-year fiscal framework of 2021-2027.
The Fund will consist of 500 billion euros in grants and 250 billion euros in loans, with the financing raised by the Commission in financial markets by increasing the ceiling of funds that the EU can request from member states by 0.6 percentage points.
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