Showing posts with label Budget 2015. Show all posts
Showing posts with label Budget 2015. Show all posts

Thursday, March 12, 2015

Greek payment deadlines ahead - pressure on Greece is increasing


by Silvia Merler on 10th March 2015

Discussions between Greece and its creditors are due to restart tomorrow. In the meantime, the pressure on Greece is increasing.
 Here we take a look at the relevant deadlines ahead for the Greek State coffers.

Redemptions to official creditors

The path of redemptions to public creditors in 2015 is dominated by repayments to the IMF, T-Bills rollover and repayment of bonds held by the ECB

As previously discussed, the path of redemptions to public creditors in 2015 is dominated by repayments to the IMF, T-Bills rollover and, in July and August, repayment of bonds held by the ECB. In March, Greece has 1.2 billion euros left to repay to the IMF, in three tranches: 335 million will be due on the 13th of March, 558 million on the 16th of March and 335 million on the 20th. On top of this, Greece will need to roll over 1.3 billion of T-Bills expiring on March 13th and 1.6 billion on March 20th. Once the March deadlines have passed, April and May will be relatively quiet, before funding challenges resume in June, and most importantly in the summer with the big tranches due to the ECB.