File photo: The interest rate of the issue to around 0.20 pct from an early 0.28 pct. APE-MPE
Greece on Monday announced the launch of a 15-year state bond, Public Debt Management Authority said in an announcement to the stock market.
The announcement came 48 hours after Fitch upgraded the country’s credit rating to BB from BB-.
Meanwhile, Greek state bond prices rose significantly, with the 10-year bond yield falling to new historic lows in the domestic electronic secondary bond market on Monday.
Fitch analysts take it for granted that the Greek government will renegotiate a fiscal target from 2021 onwards as part of an agreed process with European institutions, which will be based on the country’s fiscal and growth performance and the implementation of reforms. A reduction of targets by one percentage point of GDP could give a significant boost to the economy. They also envisage that the general government’s debt will fall to 161 pct of GDP by 2021 from 181.2 pct of GDP in 2018.
Source: ANA-MPA
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