SaltWire's Atlantic regional weather forecast for September 12, 2023 | SaltWireATHENS - Greece plans to raise up to 7 billion euros from debt markets in 2024 through new short- and long-term bond issues and will allow retail investors to participate in Treasury bills auctions, two government sources told Reuters on Tuesday.
The outstanding amount of T-bills is about 11.5 billion euros and could be reduced by 1.5-2 billion euros in 2024. Earlier this month, Belgium raised a record 21.9 billion euros from savers in a bond sale designed to compete with bank deposits. "Achieving the primary surplus target in 2024 will suffice to fully cover interest rate payments for the year," the first official said, adding that from 2025 onwards Greece expects its annual surplus will be higher than the interest rate payments.
Greece lost its investment credit rating - which implies a low risk of default - in 2010, when it plunged into a near decade-long debt crisis, forcing it to sign up to three international bailouts worth about 260 billion euros to stay afloat.