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

October 11, 2019

 

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.

 

 

NavInvest Greece provides detailed analysis of economic, financial and business conditions in Greece via due diligence studies, business planning, financial analysis and modelling and merger & acquisition support. For further information on investments and entrepreneurship in Greece, please contact us.

 

 

Sources:

Financial Times

Kathimerini Greece

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