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 to minimize 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 in order to achieve an integrated risk management.
- Implementing the aforementioned principles in terms of General Government.
- Coordinating actions of General Government Entities, related to their portfolios.