For strong vote of confidence from international markets speaks o Christos Staikouras commenting on today’s (Wednesday) reissue of a 7-year bond with an interest rate lower than the levels of 2019, despite the unfavorable situation.
“Greece today successfully proceeded to the reissue of a 7-year bond, continuing steadily and methodically the implementation of its loan program for 2022,” said the Minister of Finance.
“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 to support households and businesses affected by rising energy prices, “the minister said.
As Mr. Staikouras stressed, “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 compared to the levels of 2019 “.
The minister pointed out for the current situation that “there is an increase of uncertainty and 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 the international markets, gathering high demand and quality of capital “said Mr. Staikouras.
“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. 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 “.
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