Regarding the Greek Public Debt Portfolio, the Liability Management Policy of the PDMA is based upon the following principles:

  • Identifying and exploiting opportunities in the prevailing market conditions.
  • Using derivatives minimizing all-in costs.
  • Avoiding the incorporation of systemic risks into the total debt portfolio.
  • Reducing as much as possible the FX exposure of the Greek debt.
  • Reducing the Interest Rate Exposure at the lowest possible level, taking advantage of existing market conditions.
  • Ensuring the longest possible weighted average maturity of debt, in line with the current levels.
  • Combining Funding and Liability Management policies for the sake of an integrated risk management.
  • Implementing the aforementioned principles in terms of General Government.
  • Coordinating actions of General Government Entities, related to their portfolios.