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Majority of Greeks report financial hardship due to Covid-19 A special white paper by Intrum examining the impact of the coronavirus pandemic on households has found that Greeks are coming under increasing financial pressure as a result of the lockdown.
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Economy
ECB boost for Greek debt as authorities ponder new market foray Greece was buoyed by the European Central Bank on Thursday, following its announcement that the emergency pandemic purchase programme (PEPP) will be extended beyond the end of 2020.
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EconomyMacroeconomy
Central government debt increases by 5.81 bln to 361.83 bln in Q1 Greece’s central government debt increased by 5.81 billion euros to 361.83 billion euros quarter-on-quarter (QoQ) in the first quarter (Q1) of 2020, from 356.01 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Tuesday.
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Economy
EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021 The European Commission released today its Spring Economic Forecasts, the first official set of numbers since the pandemic outbreak, which point to the EU economies experiencing “a recession of historic proportions this year.”
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Economy
Athens expects emergency economic measures to contain 2020 contraction to 4.7 in baseline The Greek Finance Ministry published on Sunday night the Stability Programme for 2020 that it submitted to the European Commission, providing the first official assessment of the economic impact the government expects to see from Covid 19 this year, as well as the notable recovery expected next year.
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Economy
S&P keeps Greece at 'BB-' but revises outlook to stable on Covid-19 concerns In its regular rating cycle, S&P re-affirmed Greece’s credit score to ‘BB-‘, while it revised the outlook from positive to stable.
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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.