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Debt
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EconomyMacroeconomy
Overdue social security contributions rise to 37.4 bln in Q3 The stock of unpaid social security contributions (SSCs) increased to 37.40 billion in the third quarter (Q3) of 2020, rising by 393 million compared to the figure of 37 billion euros registered in the second quarter (Q2) of 2020, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
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EconomyMacroeconomy
Updated IMF DSA sees Greek debt as sustainable in medium-term, risks over long-term The International Monetary Fund (IMF) issued this week the latest post-programme monitoring report, the second since the summer of 2018, when the last programme ended.
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EconomyProgramme
Covid-19 leaves Greece facing 200 pct debt-to-GDP ratio in 2021, long road to sustainability The report for the eighth post-programme review published last week included an update of the debt sustainability analysis (DSA) for Greece, the first revision since the one conducted in the context of the fifth review at the start of the year, before the pandemic struck.
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EconomyMacroeconomy
Revised 2021 budget sees bigger contraction, slower recovery and support of 31.4 bln euros With Greece having completed two weeks of general lockdown and as Covid-19 data continued to cause alarm, Finance Minister Christos Staikouras tabled to Parliament on Friday the final 2021 budget, which was substantially revised from the draft document submitted at the start of October.
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EconomyProgramme
Lenders acknowledge reforms, flag up tricky fiscal path ahead Greece managed to clear on Wednesday the fourth post-programme review for this year and the third since the pandemic broke.
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PoliticsGreek Politics
Insolvency bill debate brings implementation challenges to the fore A draft insolvency mega-bill is being debated in Parliament this week, following several months of drafting and a six-week consultation period.
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EconomyMacroeconomy
Draft budget sees EU funds fuelling recovery of 7.5 pct in 2021, after 8.2 contraction this year The Finance Ministry tabled in Parliament on Monday the draft budget for 2021 in which the Greek authorities see a substantial recovery next year that will offset most of the losses suffered in 2020 due to the pandemic.
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EconomyMacroeconomy
Overdue social security contributions rise to 37 bln in Q2 The stock of unpaid social security contributions (SSCs) increased to 37 billion in the second quarter (Q2) of 2020, rising by 687 million compared to the figure of 36.32 billion euros registered in the first quarter (Q1) of 2020, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
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Economy Greece draws strong interest, attractive yield by re-opening 10-year bond Greece completed on Wednesday the fourth market foray of the year by reopening the 10-year GGB that it had issued in June, after a successful syndication earlier in the summer and a strong performance in the secondary market.
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PoliticsGreek Politics
Insolvency code, 'second chance' for debtors unveiled as ND eyes social impact of crisis The government has unveiled the draft legislation that paves the way for Greece to adopt a new insolvency code and offer debtors a so-called “second chance” – a move that New Democracy hopes will stave off a major social impact resulting from the long economic crisis, as well as the knock-on effect of the more recent coronavirus pandemic.