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Debt
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EconomyFeatures
Discussion over PEPP, SGP draw attention to rising yields The Greek sovereign debt market has enjoyed a buoyant period, largely thanks to the participation of the GGBs in the ECB’s emergency asset purchase of the pandemic codenamed PEPP, which pushed borrowing costs for the Greek state to historic lows.
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EconomyMacroeconomy
IMF maintains cautious view on public finances, sees debt declining slowly Within the context of its Fiscal Monitor, the International Monetary Fund released its latest fiscal estimates for Greece, taking a traditionally more conservative view on the country’s public finances.
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EconomyMacroeconomy
Debt strategy for 2022 set to continue along this year's steady path, assisted by PEPP Following two years during which the pandemic forced the Greek authorities to provide extensive support packages that pushed up the debt both in nominal terms and as a percentage of GDP, the draft 2022 budget anticipates the debt-to-GDP ratio resuming a downward path.
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EconomyMacroeconomy
FinMin tables recovery budget, foreseeing across-the-board improvement in key numbers The Finance Ministry submitted to Parliament on Monday the draft budget for 2022 in which Greece is seen leaving behind the impact of the pandemic.
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EconomyMacroeconomy
General govt balance deteriorates due to deficits of state and social security funds Greece’s general government (gg) deficit came to 9.36 billion euros in the first seven months of the year, compared with a deficit of 5.96 billion euros in the same period of 2020, according to the Finance Ministry’s (MoF) latest monthly gg bulletin.
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Economy
Strong response to dual bond transaction takes 2021 debt issuance to 14 bln Greece’s debt manager successfully completed the fifth syndicated transaction of the year through a dual transaction of the re-opening of the existing 5-year bond due February 2026 and the 30-year that was maturing in January 2052.
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EconomyMacroeconomy Central government debt increases 6.53 bln to 387.3 bln in Q2 Greece’s central government debt increased by 6.53 billion euros to 387.3 billion euros quarter-on-quarter (QoQ) in the second quarter (Q2) of 2021, from 380.8 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Thursday.
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EconomyMacroeconomy
Budget primary deficit reaches 9.09 bln for H1, up almost 3 bln on 2020 The budget primary balance was confirmed at a deficit of 9.09 billion euros in the first half of 2021, compared with a deficit of 6.1 billion in the same period of 2020, according to the final Finance Ministry (MoF) budget execution bulletin for June released on Monday.
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PoliticsGreek Politics
Growing Covid threat foils government's attempt to look ahead The government’s efforts to look ahead to the second half of its four-year term and the recovery from the pandemic appear to be losing traction by the day as the coronavirus becomes an ever more dominant part of the daily political agenda in Greece.
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Economy
Fitch maintains Greek 'BB' rating with stable outlook amid some lack of visibility As anticipated, Fitch kept its credit rating for Greece steady at ‘BB’ with a stable outlook.