Greece raises €1.3bn from 3 month treasury bills sale

GMT 13:39 2014 Tuesday ,12 August

Arab Today, arab today Greece raises €1.3bn from 3 month treasury bills sale

Greece treasury
Athens - XINHUA

Greece on Tuesday raised 1.3 billion euros (1.73 billion U.S. dollars) from its latest three-month treasury bills sale at 1.75 percent interest rate, the country's Public Debt Management Agency (PDMA) announced.
According to the announcement, the interest was the same as in a previous similar sale in July -- a two-year low since January 2010.
Analysts said the reduction of interest rates in the monthly auctions of short-term treasury bills in recent months, combined with Greece's successful return to financial markets this year through the sale of longer-term state bonds, is another indication that the ailing economy is stabilizing and on the path to recovery.
Over the past four years, Greece was shut out of international markets and relied on bailout funding from the European Union and the International Monetary Fund, as well as treasury bill auction programs to meet its financing needs.

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