Athens Digest 06.03.2019

• Heavy demand for the 10-year bond issue

• IMF to detail Greece risks in first post-programme report

• Senior officials charged over fire that killed 100


# The first 10-year Greek bond issue since 2010 saw heavy demand from investors. Offers reached EUR 11.8 billion and Greece raised EUR 2.5 billion on a yield of 3.9 percent _ in its second trip to the markets in five weeks. More details here.

The Executive Board of the IMF will discuss today its report on the Greek economy following its first post-programme monitoring mission in January. The staff report follows the fund’s concluding statement from the January 21-25 visit which cautioned: “Restoring growth-enhancing bank lending will require swift, comprehensive, and well-coordinated actions to help repair balance sheets.” The IMF is expected to detail its concerns over Greece  despite an upbeat projection of 2.4 percent GDP growth in 2019.

# The regional governor of greater Athens Rena Dourou, two mayors, and senior fire service and civil protection officials have been charged with negligence over last summer’s deadly wildfires outside Athens after an investigation found a “collapse of the system” in dealing with the emergency. The July 23, 2018 fire killed 100 people after gutting the coastal resort of Mati. The misdemeanour charges include manslaughter through negligence and causing serious injury through negligence.



On our Radar: Forbes’ Four Greeks
Forbes’ list of 2,153 billionaires recorded in 2019 includes four Greeks: Shipowner Philip Niarchos with a net worth of $2.8 billion in 804th place, banking and shipping tycoon Spiros Latsis in 838th place with $2.7 billion, mining and metals magnate Telis Mistakidis with a fortune worth $2.1 billion and ranked 1,116th, and Vardis Vardinogiannis, of the shipping an refining empire with $1.7 billion and in 1,349th place. Amazon’s Jeff Bezos remains the world’s richest person, beating Bill Gates and Warren Buffett who are in second and third place. Bezos added an additional $19 billion to his wealth over the past year to reach $131 billion.