ECONOMY

Debt management agency to raise 4-8 bln euros from markets in 2020

debt-management-agency-to-raise-4-8-bln-euros-from-markets-in-2020

Greece's Public Debt Management Agency (PDMA) is expected to raise between 4 and 8 billion euros in 2020, the agency said in a report released Tuesday, adding it will maintain the current level of cash reserves.

PDMA said state funding for next year will focus on the continuous presence in the international debt markets, accompanied by the reduction in debt stock.

The two main financing scenarios for 2020 it is considering, depending on the amount of early repayments, envisages either the reduction in T-bills’ stock through issuance of additional Greek government bonds (GGBs), or additional possible early prepayments of official and private sector debt.

It added that the final amount of early prepayments will depend on market conditions next year.