In 2020, the Greek state has successfully navigated through challenging macroeconomic conditions by accessing international debt capital markets at all times, and re-affirming its regular issuer status, the Public Debt Management Agency (PDMA) said in a report on Greece’s funding strategy for 2021, released Wednesday, according to ANA.
PDMA funding strategy for the year 2021 will focus on “the continuous presence in the international debt markets, accompanied by the reduction in debt-to-GDP ratio and the preservation of a large cash buffer,” it said.
It also provided two main financing scenarios for 2021, depending on the number of early repayments: (1)Scenario 1 focuses on the reduction in T-bills’ stock through issuance of additional GGBs, while (2) Scenario 2 takes into account additional possible early prepayments of official and private sector debt.
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