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Debt
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Economy
Fitch keeps Greece at 'BB' but revises outlook to stable with eye on Covid-19 impact Fitch published on Thursday night a rating review for Greece outside its regular schedule in which the outlook for the country was revised from positive to stable, re-affirming the rating of ‘BB’ that it had granted in the end of January.
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Economy
Greece clinches attractive yield for 7-year bond amid testing conditions, diminished interest Greece completed on Wednesday its first transaction to boost its cash reserves amidst the pandemic crisis by issuing a 7-year bond that raised 2 billion euros.
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Economy
Greece heads back to markets with 7-year bond in bid to boost own funds Greece wants to signal to international markets that despite the heavy toll the pandemic is expected to inflict on the Greek economy, it can move ahead with its debt strategy.
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EconomyMacroeconomy
IMF sees 2020 GDP contraction at 10 pct, budget deficit at 9 pct due to virus impact The IMF released on Tuesday its latest economic estimates in the context of the World Economic Outlook, which has incorporated the impact of what it calls The Great Lockdown that sees global GDP dropping by 3 pct in 2020, subject to various uncertainties.
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Economy
Greece braces for deeper Covid-19 impact on economy, budget and public debt The Finance Ministry is gradually accepting that the impact of Covid-19 in Greece will exact a heavy toll on the economy and the budget, with implications for the country’s public debt.
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Economy Greece braces for recession, hopes to bounce back from summer onwards The extent of the damage that could be inflicted on the Greek economy as a result of the coronavirus impact is becoming clearer by the day, with the Finance Ministry and leading investment houses now expecting Greece to slip into a recession again this year.
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Economy
ECB makes Greece eligible for up to 12 bln in bond purchases amid market frenzy After seeing its sovereign debt market decimated within a period of four weeks, Greece breathed a sigh of relief on Wednesday night when the ECB announced that it will include the country in its Pandemic Emergency Purchase Programme (PEPP).
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EconomyProgramme
Fifth post-MoU review concludes successfully, EC highlights public investment, NPLs as areas of concern As was widely anticipated, since it had been trailed by Economic Affairs Commissioner Paolo Gentiloni during his recent visit to Athens, Greece’s fifth post-programme review was successfully completed with a positive report published by the European Commission on Wednesday.
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EconomyMacroeconomy Central government debt increases by 2.16 bln to 356.01 bln in Q4 Greece’s central government debt increased by 2.16 billion euros to 356.01 billion euros quarter-on-quarter (QoQ) in the fourth quarter (Q4) of 2019, from 353.85 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Wednesday.
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EconomyMacroeconomy
EC ups growth to 2.2 pct in 2019, sees growth in 2020 at 2.4 pct The European Commission updated its economic estimates for Greece on Thursday, as part of the regular winter forecast cycle, revising upward its expectations for the growth of 2019 to 2.2 percent from 1.8 percent in the autumn forecasts three months ago.