Greece will resume its monthly Treasury Bill auctions in January, the chief of the country’s Public Debt Management Agency said on Tuesday, according to Dow Jones Newswires.
“After a pause in December due to the season, we will be resuming Treasury bill auctions next month as is normal,” Petros Christodoulou told the newswires.
Greece switched to monthly from quarterly T-bill issues in September to supplement cash reserves and improve the management of cashflow and debt refinancing.
Greece has to roll over almost EUR 5 billion in short-term paper in January 2011, according to local bond analysts, said the news agency.
It has only been issuing 13 and 26-week T-bills. It has avoided the issue of 52-week bills, fearing that yields would be above 5% due to investor nervousness about a potential sovereign default, Dow Jones Newswires stated.
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