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Investment grade boost visible in strong demand for Greek assets
EconomyThe benefits that were widely anticipated from Greece securing the investment grade have become tangible over the last few months, at least on the demand side for Greek assets, including the sovereign, banks, and state assets.
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Investment grade rewards evident in first bond issuance of 2024, attracting record demand
EconomyThe benefits of Greece securing the investment grade for its sovereign debt from four rating agencies last year were clearly visible in the first bond issued by the Public Debt Management Agency on Tuesday.
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PDMA taps markets for first time this year via modest bond reopening
EconomyGreece’s debt managers have tapped the markets for the first time this year, with the re-opening of a 5-year issue that matures in June 2028, which had an initial issue yield of 3.875 pct.
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Greece aims to replicate last year's successful debt strategy in 2024
EconomyJust before the festive season, the Public Debt Management Agency (PDMA) released the debt strategy for 2024, which summarises the positive developments regarding Greece public debt in 2023 and outlines a modest debt plan for 2024, in line with last year’s successful strategy.
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Benefits of investment grade starting to become visible
EconomyGreece started seeing the first signs of the rewards from securing an investment grade from all the leading, and ECB accepted, rating agencies bar Moody’s, though domestic continue to cause concern for the government.
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Fitch rating upgrade seals Greece re-establishing itself as investment grade material
EconomyThe annual credit review cycle for Greece was concluded on Friday with Fitch becoming the latest rating agency to award Greece an investment grade, upping the country’s rating to ‘BBB-‘, while keeping the outlook stable.
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Final budget sees 2.9 pct growth in 2024, primary surplus at 2.1 pct of GDP
EconomyMacroeconomyThe Finance Ministry submitted to Parliament the final budget for 2024, which sees growth picking up next year and a sizable primary surplus in line with the country’s fiscal commitments that support debt sustainability.
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Lower repos push debt down to 402.88 bln in Q3, bonds rise by 2.5 bln
EconomyMacroeconomyGreece’s central government debt recorded a drop of almost 2 billion euros to 402.88 billion euros in Q3 2023, the Finance Ministry's (MoF) debt bulletin showed on Friday.
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IMF sees short-term progress and persistent long-term challenges
EconomyMacroeconomyThe IMF published on Tuesday the concluding staff statement of the mission in the context of the Article IV consultations which took place recently.
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S&P awards investment grade, bringing arduous cycle for economy to a close
EconomyS&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.