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European Commission keeps DSA broadly same, stresses need for relief
EconomyProgrammeThe Compliance Report issued by the European Commission following the formal conclusion of the third review at Monday’s Eurogroup includes the updated Debt Sustainability Analysis (DSA) put together by the European institutions.
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S&P sees improved fiscal and growth prospects, raises credit rating to 'B'
EconomyRating agency S&P raised Greece’s long-term credit rating to ‘B’ from ‘B-’ on Friday, maintaining the positive outlook.
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Athens set to profit from falling borrowing costs as yields drop ahead of review completion
EconomyFeaturesGreek borrowing costs have dropped significantly as the country nears the completion of what is meant to be its final adjustment programme.
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High participation rate helps bond swap tick box
EconomyGreece’s Public Debt Management Agency (PDMA) announced on Wednesday that is on the verge of completing successfully the debt management exercise that it initiated on November 15.
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Final budget sees strong growth, fiscal overperformance in 2018
EconomyMacroeconomyThe Finance Ministry tabled in Parliament on Tuesday evening the final version of the 2018 budget, which the government hopes will be the last budget of the memorandum era as the current European Stability Mechanism programme is set to be completed in August next year.
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Greece continues debt management with swap of bonds worth 30 bln
EconomyGreece’s Public Debt Management Agency (PDMA) announced on Wednesday that it was inviting holders of bonds that were exchanged as part of the Private Sector Involvement (PSI) in March of 2012 to swap them with five new securities that mature between 2023 and 2042.
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EC sees lower growth in 2017 but no concerns for fiscal targets
EconomyMacroeconomyThe European Commission remains optimistic about the Greek economy’s prospects in its Autumn forecasts, which were released on Thursday.
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Athens eyes ample cash buffer, prepares for bond swap
EconomyProgrammeSpeaking to a parliamentary committee on Wednesday, Alternate Finance Minister Giorgos Houliarakis highlighted the government’s plans for creating an ample cash buffer before it exits the third programme next summer.
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Debt relief-for-reforms option being discussed for post-programme era
EconomyProgrammeGreece’s lenders are discussing the possibility of reaching an agreement with Athens to link debt relief to future reforms after the end of the third programme, a eurozone official told journalists in Brussels on Tuesday.
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Revision sees 2016 fiscal surplus at 0.5 pct of GDP
EconomyMacroeconomyAs part Greece’s obligation in relation to the Excessive Deficit Procedure (EDP) notification of 2017, Greece’s statistical authority, ELSTAT, announced on Monday the revised fiscal data for the 2013–2016 period.