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Greece borrows €487.5 million in 13-week treasury bills at -0.02% interest

On October 9th, Greece borrowed € 487.5 million in 13-week treasury bills at a negative interest rate of -0.02%.

The Greek Public Debt Management Authority announced on Wednesday that during the three-month T-bill auction, Greece secured €487.5 million by selling 13-week treasury bills at an interest rate of -0.02%. It should be noted at the last 13-week treasury bill sale, August 2019, the interest rate was 0.095%.

In addition, Wednesday’s bids were 2.71 times oversubscribed. The previous day, Greece sold €1.5 billion of 10-year bonds at a yield of 1.5%.

The European Central Bank reduced interest rates by 0.1% point to -0.5% in September which partly influenced this decline.

The Greek government has announced a forecast of 2.8% economic growth in 2020, which would put the economy on track to meet a budget target agreed with creditors while ratifying tax relief measures.

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