ECONOMY

EU, IIF study extending Greek swap to longer bonds, source says

European Union and Institute of International Finance officials are studying an extension of a Greek bond swap to cover government debt maturing by 2024, instead of 2020, a senior Greek banker said on Wednesday.

“They are examining extending the maturities of the bonds that will participate in the exchange from 2020 to 2024,» said the banker, who was briefed by IIF officials.

“That will make it easier for the Greek government to achieve the target of 90 percent participation from the private sector,» said the banker, who asked not to be named. [Reuters]