ATHENS: The Ministry of Finance stated that it decided to borrow €7.3 billion form public fund reserves. The ministry has already secured €5.5 billion from security fund reserves and expects to draw another €1.5 billion from public utility companies fund reserves which will be invested in Treasury bills.
Alla efforts are underway to repay installments due to the European Commission, the European Central Bank and the International Monetary Fund.On Thursday evening, amid political tensions, the council of the Attica Region decided to lend Greece’s central bank, the Bank of Greece, 80 million euros from its fund reserves. The Attica Region is the richest region with 343 million euros in its fund.
At the same time, the Manpower Employment Organization (OAED) decided to transfer 120 million euros from its fund to the Bank of Greece with the option to turn them into state repos.By adding regions to the list of lenders to the state, the finance ministry can draw up to 7.3 billion euros for its financing needs.
