“Greece today successfully reissued a 7-year bond, continuing steadily and methodically the implementation of its loan program for 2022,” said Finance Minister Christos Staikouras, referring to the reissue of the 7-year bond.
“Our country raised 1.5 billion euros, with an interest rate of 2.4%. The cost of borrowing, although high – due to the unfavorable international situation – remains lower than the levels of 2019″ he noted and added that ” Despite the adversity, Greece, taking advantage of the positive developments on the economic front lately – such as the good performance in the fiscal field, with improved deficit and public debt in 2021, but also the double upgrade of the country – received a strong vote of confidence from international markets, gathering high demand and quality of capital “.
“All of the above proves that our country, even in this fluid international environment, manages to move steadily in the regularity of a classic issuer – Eurozone country, ensuring its stable presence in international markets, as do other European economies.” , stressed Mr. Staikouras.
The statement of Mr. Staikouras in detail:
“Greece today successfully proceeded to the reissue of a 7-year bond, continuing steadily and methodically the implementation of its loan program for 2022.
Our country raised 1.5 billion euros, with an interest rate of 2.4%. Borrowing costs, although high – due to the unfavorable international situation – remain lower compared to 2019 levels.
A situation in which there is an increase in uncertainty and a deterioration of conditions in the global bond market, which is going through one of the most difficult periods in its history, with a significant increase in government bond yields.
Uncertainty caused by geopolitical developments, the ongoing health and energy crisis, the significant increase in inflation, but also the shift of central banks to a more restrictive monetary policy.
However, despite the adversity, Greece, taking advantage of the positive developments on the economic front lately – such as good performance in the fiscal field, with improved deficit and public debt in 2021, but also the double upgrade of the country – received a strong vote of confidence from international markets, gathering high demand and quality of capital.
All the above prove that our country, even in this fluid international environment, manages to move unwaveringly in the regularity of a classic issuer – a country of the Eurozone, ensuring its stable presence in international markets, as do other European economies.
The Ministry of Finance, in collaboration with the Public Debt Management Organization (ODDIH), continues with insight, method and consistency the – proven – successful publishing strategy, significantly enhancing the country’s credibility and trust.
Publishing strategy that in combination with the further implementation of the loan program and the continuation of the current issue, the double bond issue of September 2021 and the bond exchange of last December, aims to improve the liquidity of Greek government bonds and to further improve its operation. their secondary market
Having now covered a significant part of the 2022 publishing program, we keep the country’s cash resources at a safe level, while securing the necessary resources in order to be able to continue supporting households and businesses affected by rising energy prices. “.
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Source: Capital
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