Greece Plans 4.5 Bln Euro Bond Rollover to Plug Fiscal Gap
Monday, 14 October 2013
Greece’s finance minister said the government plans to roll over about 4.5 billion euro of bonds maturing in March next year to partly plug a fiscal deficit, Reuters reported.
"We are thinking of rolling over the bonds issued by the finance ministry in exchange for preferred shares from banks, about 4.5 billion euro. This means covering a big part of the funding gap," finance minister Yannis Stournaras said.
The IMF and Greece estimate that the country faces a funding gap of nearly 11 billion euros for 2014-15.