Greek credit shrinks 5.4 pct y/y in April

Total credit in Greece shrank 5.4 percent year-on-year in April, with the pace of decline slowing from the previous month, Bank of Greece data showed on Thursday.

Credit extended to the government fell 16.4 percent in April after a 17 percent drop in the previous month.

Lending to businesses and households shrank 3.4 percent compared to a 3.5 percent contraction in March. [Reuters]