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Cash reserves of Greek state up in 2018

The Greek state’s cash reserves grew by 25.871 billion euros in 2018, totaling 26.819 billion euros from 948 million euros a year earlier, the finance ministry said in a report released on Wednesday.

Central government debt was 358.948 billion euros at the end of 2018, from 328.703 billion in 2017.

The report said that Greece issued new debt worth 34.640 billion euros in 2018, representing the ESM’s long-term loans (21.7 billion euros at an average weighted cost of 1.43 pct), a new seven-year bond worth 3.0 billion euros carrying a coupon of 3.375 pct.

Another 36 million euros from the European Investment Bank with an interest rate of 1.771 pct, net Treasury bills worth 337 million euros for a total stock of 15.28 million euros in 2018. Also, new short-term repos worth 9.590 billion euros for a total stock of 24.521 million euros.

The average weighted duration of new borrowing in 2018 was 19.8 years while the average weighted cost was 1.39 pct. via amna

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