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Debt
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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.
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Economy
Strong performance of 15-year bond bodes well for market strategy The strong appetite for Greece’s sovereign debt has been visible over the last few weeks across the curve, with yields as low as 0.3 pct for the 5-year issue.
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Economy
Greek 15-year bond attracts strong interest, improves debt profile Greece had its most successful market test since it exited its third adjustment programme in August 2018, by issuing a new 15-year bond that attracted significant investor interest and a very attractive yield.
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EconomyProgramme
Lenders conclude 'productive' talks on fifth review but issues remain as Athens targets fiscal space The fifth post-programme surveillance review was completed on Friday following three days of talks between the Greek authorities and the heads of the institutions in Athens that were preceded by a week of discussions with the technical teams during the previous week.
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Economy
Fitch raises Greece to 'BB,' two notches from investment grade, sees growth at 2.5 pct in 2020 Fitch upgraded Greece’s credit rating on Friday by one notch to ‘BB’ and revised upwards its outlook to positive, bringing the country just two notches away from investment grade.