Greek FinMin: State raised two billion euros in liquidity

Tuesday, 19 January 2021 21:20
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Greece's external public debt was reduced by roughly 620 million euros, while the state drained some two billion euros from a buy-back and reissuance of bonds with the country's four systemic banks.

The latter are long-term securities maturing in 2050, and essentially means the re-issue of a 30-year bond that was privately placed in January 2020.

The latter transactions, in fact, generated significant profits and increases in capital for the previously thrice-recapitalized banks.

In a statement, Finance Minister Christos Staikouras pointed to a successful effort on the part of the Mitsotakis government to improve all of the sustainability indexes linked with the country's - huge - debt as well as ensuring the state's cash reserve liquidity.

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