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Greek debt rises to 303 bn euros

Central government debt reached 303.53 billion euros as of June 30, rising by 23.2 billion from March 31, finance ministry data showed

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20 Aug 2012

Central government debt reached 303.53 billion euros as of June 30, rising by 23.2 billion from March 31, finance ministry data showed.

Central government data differ from general government debt figures, which are used to calculate the country's debt-to-GDP ratio under eurozone rules.

According to the figures, the overwhelming part of borrowing in the first six months of the year was from the government's official creditors - 76.7 percent from the European rescue fund EFSF and 3.4 percent from the IMF - although 19.9 percent was raised via short term treasury bills.

The ministry said that 96.7 percent of the central government's 303.53 billion euro debt load was denominated in euros. Just 45 percent of the debt was tradable. The figures do not include 20 billion euros of government-guaranteed debt.

Fixed-rate loans made up 43.2 percent of the total with the remaining 56.8 percent being floating-rate debt. Cash reserves at the end of June stood at 3.49 billion euros.

Source: Reuters/Athens News, LE

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