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Greece skips T-bill sale


Greece skips T-bill sale


Greece has said it will skip an auction of three-month Treasury bills scheduled for next week because it has enough cash for the moment.

The head of the country’s debt management agency said they will return to the market in April to borrow again.

The agency raised 1.625 billion euros from a sale of six-month T-bills earlier this week.

That was its first borrowing move after a three-notch downgrade by the ratings agency Moody’s.

Greece switched to monthly issues of short-term government paper from quarterly sales last September, seeking to improve its cash management s it struggles to emerge from its debt crisis.

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