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Investors offer $38.8 bn in Greek debt buyback

Source : BUSINESS_STANDARD
Last Updated: Sat, Dec 08, 2012 18:56 hrs

pGreek and foreign bondholders offered the targeted euro 30 billion 388 billion in a debt buyback that is key to the country&rsquos international bailout a Greek government official said on Saturday suggesting the plan had broadly succeededppThe plan is central to efforts by Greece&rsquos Euro zone and International Monetary Fund IMF lenders to cut its debt to manageable levels and unlock more than 30 billion euros of rescue loans the country badly needs later this monthppIt accounts for about half of a broader euro 40-billion EUIMF debt relief package for Athens agreed in November Under its terms Athens will spend up to euro 10 billion euros of borrowed money to buy back bonds with a nominal value of about euro 30 billionp


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