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EconomyMacroeconomy
DBRS keeps rating at BBB, ups outlook and sees upgrades if conditions improve DBRS kept Greece’s rating unchanged at BBB (Low) on Friday, while it upped its outlook to positive from stable. DBRS was the first agency to grant the investment grade in September last year, although it was overshadowed by the extensive damage caused by Storm Daniel.
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EconomyMacroeconomy
Central govt debt rises by 1.5 bln in Q2, to 407 bln Greece’s central government debt recorded a rise of roughly 1.5 billion euros to 407.06 billion euros in Q2 2024, the Finance Ministry's (MoF) debt bulletin showed on Monday.
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EconomyMacroeconomy
Greece sticks to debt repayment strategy amid uncertainty caused by EU elections Following a disappointing result in the European Parliament elections on June 9, Prime Minister Kyriakos Mitsotakis appeared on Bloomberg last Wednesday to reassure markets that his government is stable and determined to follow its reform agenda.
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EconomyMacroeconomy Central govt debt drops to 405.54 bln in Q1, bonds rise by 3bln Greece’s central government debt recorded a drop of roughly 1 billion euros to 405.54 billion euros in Q1 2024, the Finance Ministry's (MoF) debt bulletin showed on Monday.
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EconomyMacroeconomy
OECD sees growth stable at 2 pct this year, urges reforms and fiscal discipline In its latest economic outlook, the OECD is slightly more optimistic about Greece’s growth prospects, although it warns that there is no room for complacency as the economy’s structural challenges need to be addressed and the public spending the economy requires will lose the boost it had received from the RRF when the scheme concludes in 2026.
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Economy
Strong demand for 30-year benchmark bond, yield of 4.24 pct double 2021 rate Greece’s debt managers leveraged the positive sentiment after S&P’s revision of the outlook for Greek Government Bonds (GGB) to positive last Friday and issued a new 30-year bond on Wednesday, the longest maturity since the same issuance in early 2021.
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EconomyMacroeconomy
Fiscal data for 2023 indicates that 2.1 pct of GDP goal is within reach In the context of the first Excessive Deficit Procedure (EDP) notification of 2024, the fiscal data for the 2020-2023 period was released by ELSTAT on Monday. The figures contained encouraging signals for the Greek authorities as the fiscal framework becomes tighter and Greece aims to achieve large primary surpluses in the coming period.
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EconomyMacroeconomy![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF sees 2024 growth at 2 pct, debt on downward trend due to high primary surpluses During the Spring meetings held by the International Monetary Fund and the World Bank in Washington this week, the IMF presented its latest global estimates as part of the World Economic Outlook and the Fiscal Monitor.
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Economy
Investment grade boost visible in strong demand for Greek assets The 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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Economy
Investment grade rewards evident in first bond issuance of 2024, attracting record demand The 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.