He does in our country what he did in his party!
The Greek state will have to provide more money for debt servicing in 2023, as it will have to allocate 5.85 billion euros next year, from 4.85 billion euros in 2022.
With Greek bond spreads remaining stable above 270 basis points and the 10-year bond yield exceeding 4.6% in recent weeks, the financial staff estimates 2023 will move into ‘Combined’ bond issues.
Based on the debt repayment schedule, until today, the only loans paid by the sacrifices and taxes of the Greek people have been the bilateral loans to the member states concluded in the first memorandum, those of the International Monetary Fund which It was paid before the due datebut also those that were not included in the infamous PSI of 2012. In practice, the repayment of large loans received by Greece during the notes did not start, which is expected to happen from 2023.
Treasury billsThe value of Greek state bonds at an interest rate of 11.8 billion euros. This is a short-term loan of 3, 6 or 12 months.
ANFA: These are the bonds held by European central banks. For this year, the amount reaches 768 million and extends to 2037, the total amounting to 1.5 billion euros. It should be noted that it was agreed to return the specified amounts to the Greek state, as part of debt relief measures.
SMP’s: A similar program concerns the Greek bonds held by the European Central Bank, totaling 2.34 billion euros, which are returned to the Greek state.
Non-PSI Bonds: Greece’s public debt restructuring in 2012 with the infamous PSI in March 2012 resulted in a 53.5% “discount” for many small bond holders, as well as insurance funds. However, not all bonds were included in the PSI, as both Greek bondholders and the European Central Bank decided not to participate. This is why the ANFA program was created. Today, two years of repayment remain, i.e. 2028 (200,000,000 euros) and 2034 (314 million euros).
bonds: The Greek state regularly ventures out into international markets in order to borrow new money. In most issues, he actually pays the old bonds outstanding and replaces them with the new bonds. There are still a total of €81.9 billion in bonds maturing today, mainly bought by foreign investors and extending through 2057. At this time, 3, 5, 7, 10, 15 and 30 year bonds are trading in the secondary bond market.
TtE: In 2023, the loans amounting to 449,000,000 euros to the Bank of Greece must be repaid.
European Investment BankThe Greek state has secured loans from the European Investment Bank (EIB) and the Development Bank (TASE) amounting to 7.83 billion euros and running until 2041.
surely: SURE was an emergency measure to support employment during the pandemic. The remaining amount that Greece has to pay to Europe amounts to 5.26 billion euros, starting in 2025 and four more installments until 2050.
recovery fund: Greece has already received some of its first loans from the Recovery Fund. Small payments are currently scheduled for 2032-2052. The amounts will increase as loan payments increase.
EFSF loans: These are most of the loans Greece received from the Emergency Stabilization Mechanism (EFSF) that was set up with the outbreak of the financial crisis. The time horizon for these €130.9 billion loans extends to 2070! It is worth noting that from 2023, the repayment of loans to the European rescue fund begins, since the Greek state withdraws 1.738 billion euros from its coffers every year until 2027, and then from 2028 to 2037 the base amount will increase annually at 1.83 billion euros.
esm loansThe evolution of the EFSF was the Permanent Environmental and Social Management Support Mechanism, through which Greece received loans amounting to €59.8 billion. Repayment of the specified loans begins in 2034 and is completed – under current conditions – in 2060.
Transnational loans: Greece It will repay 2.7 billion euros of loans ahead of schedule Because of the eurozone countries, in the context of the first note. Eurozone countries provided Greece with 53 billion euros (which today amounts to 48.7 billion euros) in bilateral loans (GLF), with maturities extending to 2041.
repo: These are securities repurchase agreements. Repurchase agreements today amounted to 39.19 billion euros and relate to agreements between the state and financial entities or institutions at fixed rates with a repurchase agreement at a later time. This time period ranges from one day to several weeks. Although it was only registered as a debt in 2022, it is carried over from year to year.
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