Greek Government Bonds Rise as Kathimerini Says IMF Drafting New Aid Plan

Bloomberg
May 10, 2011

Greek government bonds rose after Athens-based newspaper Kathimerini reported that the International Monetary Fund is arranging an aid package to replace Greece’s existing bailout program.

The 10-year bond yield fell 42 basis points to 15.29 percent and the two-year note yield dropped 71 basis points to 24.90 percent as of 8:59 a.m. in London.

The IMF is arranging an 80 billion-euro ($115 billion) to 100 billion-euro package including additional cash to cover Greece’s funding needs through 2013, Kathimerini reported, without saying how it got the information.

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