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Debt
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Economy
PDMA taps markets for first time this year via modest bond reopening Greece’s debt managers have tapped the markets for the first time this year, with the re-opening of a 5-year issue that matures in June 2028, which had an initial issue yield of 3.875 pct.
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Economy
Greece aims to replicate last year's successful debt strategy in 2024 Just before the festive season, the Public Debt Management Agency (PDMA) released the debt strategy for 2024, which summarises the positive developments regarding Greece public debt in 2023 and outlines a modest debt plan for 2024, in line with last year’s successful strategy.
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Economy
Benefits of investment grade starting to become visible Greece started seeing the first signs of the rewards from securing an investment grade from all the leading, and ECB accepted, rating agencies bar Moody’s, though domestic continue to cause concern for the government.
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Economy Fitch rating upgrade seals Greece re-establishing itself as investment grade material The annual credit review cycle for Greece was concluded on Friday with Fitch becoming the latest rating agency to award Greece an investment grade, upping the country’s rating to ‘BBB-‘, while keeping the outlook stable.
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EconomyMacroeconomy
Final budget sees 2.9 pct growth in 2024, primary surplus at 2.1 pct of GDP The Finance Ministry submitted to Parliament the final budget for 2024, which sees growth picking up next year and a sizable primary surplus in line with the country’s fiscal commitments that support debt sustainability.
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EconomyMacroeconomy
Lower repos push debt down to 402.88 bln in Q3, bonds rise by 2.5 bln Greece’s central government debt recorded a drop of almost 2 billion euros to 402.88 billion euros in Q3 2023, the Finance Ministry's (MoF) debt bulletin showed on Friday.
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EconomyMacroeconomy
IMF sees short-term progress and persistent long-term challenges The IMF published on Tuesday the concluding staff statement of the mission in the context of the Article IV consultations which took place recently.
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Economy
S&P awards investment grade, bringing arduous cycle for economy to a close S&P became on Friday the first of the three leading rating agencies that restored Greece to investment grade, bringing to a close an arduous period for the country that started at the end of 2009 and was sealed with the signature of the first adjustment programme with the eurozone and the IMF in May 2010.
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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 forecasts high primary surpluses, tempers growth expectations At the annual meetings of the IMF and the World Bank currently being held in Morocco, the Fund presented its latest global economic and fiscal estimates.
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Economy
Return to investment grade overshadowed by flood destruction The Greek authorities and particularly the government must have had different plans in response to Friday’s move by DBRS to upgrade Greece’s credit rating to investment grade, a rating that it lost 13 years ago as the debt crisis was unfolding and led to three successive adjustment programmes.