bursement of the funds is covered by assets that
are now the property of the Greek state, are
scheduled for sale and have a substantial resale
value.
The government also notes the following:
●The largest part of the public debt is now held by
Greece’s partners and the Eurosystem.
●The average weighted maturity of the debt has
been extended.
●The average remaining duration of the debt
stands at 16 years. For most euro zone coun-
tries the average duration does not exceed 7
years.
Therefore, the government estimates that these
two parameters are particularly important for
reducing the repayment and refinancing risk, as
well as ensuring the sustainability of the debt,
while they also release funds for growth and save
the time needed for restructuring the economy.
The average weighted interest rate for new loans,
which is determined by the issues of Treasury
bills and the loans extended by the European
Financial Stability Facility and the International
Monetary Fund, stood at the end of October at
rather low levels, i.e. 2.6%.
Debt servicing costs are expected to close at 19
Trade with Greece
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