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Title
Recent Developments in Public Debt Management
Country
Greece
Abstract
As of 1/1/2001 Greece is the twelfth member of the European Monetary Union (EMU) and euro is its legal currency. The greek economy, being part of the integrated european economy, operates currently in a completely different environment, where the monetary policy is designed by the European Central Bank and the exchange policy for the common currency reflects the prevailing economic conditions in the euro-zone. The year 2001 is characterized by great uncertainties resulting in the slackening of economic growth for most countries. In addition to that, the consequences of the tragic events in the USA, though not yet fully evaluated, will have an adverse impact in the international economic activity. Despite the adverse economic environment the greek economy maintains its momentum, achieving high growth rates for the third consecutive year. Though the growth rate of GDP is estimated to be confined to 4.5% (compared to an initial budget estimation of 5.0%), it is still 2% higher than the average growth rate of the euro-zone, resulting in a faster real
convergence of the greek economy.
Author(s)
Republic Hellenic - Ministry of Finance Public Debt Division
Language
English
Series
working. paper
Date of Publication
2001
No./Date
2001
URL
http://www.mof-glk.gr/en/publi[..]
Number of pages
15
Table of contents
1.Introduction;
A.Brief overview of the greek economy;
2.Central government debt;
A.Policy objectives;
B.Structure of central government debt;
3.The greek government securities markets;
A.Primary market;
B.Secondary market;
C.Repo market;
D.Bond futures marke;
4.Debt management objectives;
5.Other Issues;
A.Assuance of privatisation certificates.

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