ECONOMY

PDMA auctions six-month treasury bills at zero yield

pdma-auctions-six-month-treasury-bills-at-zero-yield

Greece raised 1.3 billion euros in the last treasury bill auction for 2019 at zero yield, the country’s Public Debt Management Agency (PDMA) said on Tuesday in a statement.

The 26-week treasury bills were sold at zero percent compared to a minus 0.02 percent yield in the previous similar auction held on December 4, according to the statement.

Since October last year, Greece has been borrowing money at negative interest rates for the first time in decades.

The debt-laden country exited the so-called memorandum era in August 2018, after depending on three programs to tackle a serious debt crisis which brought it to the brink of bankruptcy.

Shut out of the bond markets since 2010, Greece is gradually returning to the markets.

[Xinhua]