On Wednesday, Greece was able to get $ 1,625 billion (€ 1,424,294,000) at the first bill auction in 2019. This was reported to the country’s Public Debt Management Agency (PDMA). The press release said that the 6-month treasury bills were sold with a yield of 0.9%. Recall that on December 5, 2018, a similar auction was also held, and then the yield of securities was also equal to 0.9%.

Auction purpose

Greece holds bill auctions in order to receive funds and direct them to cover debts, as well as partially satisfy their financial needs. The need for trading in this format is due to the fact that Greece was forced to withdraw from the international capital markets in 2010. At the same time, international programs were launched to eliminate it from the economic crisis.

According to representatives of the Ministry of Finance of Greece, on August 20, 2018, Greece stopped receiving financial assistance from the international community, which was provided for eight years. And in the coming months, the country is going to return to international trading.

Thanks to its own economic policy, Greece will soon be able to pay its debts. Recall that the state’s debt was not canceled and even partially written off, despite the fact that such forecasts were made. At the same time, the EU ordered the country to keep a budget surplus of 3.5% in the next three years. 

The authorities are doing a great job. As a result of last year, GDP grew in Greece, and unemployment fell. At the same time, foreign investors began to show an increased interest in local real estate, and the flow of tourists increased significantly.