World Business

Greece to sell treasury bills next week

(Xinhua)
Updated: 2010-07-10 17:01

ATHENS - Greece will sell 1.25 billion euros ($1.58 billion) in treasury bills Tuesday, but there will be on auction of one-year treasury bills next week, officials said Friday.

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Details of the auction was announced by the Public Debt Management Agency, which is supervised by the Ministry of Finance.

Analysts had previously expected Greece to sell 26- and 52-week treasury bills worth at least 2.1 billion euros ($2.63 billion) next week, followed by 13-week treasury bills later in July to secure at least 2.4 billion euros ($3.01 billion).

The auction is regarded the first test of the market confidence on the Greek economy since the activation of a European Union-International Monetary Fund (IMF) support mechanism in May.

Greece secured a 110 billion euros ($139.42 billion) package of financial aid from the EU and the IMF over a three-year period amid a sovereign debt crisis that rocked the global markets.