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Greece 2023 funding plan

EUROZONE ISSUANCE

The PDMA published its 2023 funding plan on 22 December:

  • 2023 financing needs: E7.2bln MT/LT redemptions, E4.7bln debit interest, -E1.7bln primary surplus, E0.8bln T-bill stock reduction, E4.5bln "other cash requirements".
  • 2023 financing sources: E7.0bln medium/long-term debt issuance (excluding potential Green Bond issuance), E4.2bln other ("RRF, EIB, CEB etc."), E2.0bln privatization receipts, E2.2bln decrease in cash reserves.
  • In 2022 Greece raised E8.3bln in capital market operations (E5.5bln through syndication, E2.8bln through auction).
  • In 2022 Greece made an early repayment of E1.9bln in April to fully repay its IMF loans and in December made an early repayment of E2.7bln towards its GLF loans.
  • Greece "contemplates" issuing its inaugural Green GGB in H2-23 ("complementary to the conventional GGB yield curve")

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