Pay-outs from insurance polices on Greek bonds, known as credit default swaps, will reach about $2.5 billion (€1.9 billion), according to specialised brokerages Markit and Creditix.
A recovery rate of 21.5% of face value on insured bonds was established at an auction today, which means that the default swaps will make up the remaining 78.5%.
Venizelos quitting to lead party
Greek finance minister Evangelos Venizelos is resigning his government job after being elected on Sunday to head the Socialist party Pasok.
Venizelos has played a central role in recent months in negotiating a second bail-out for Greece and implementing new austerity measures.
He made his announcement after meeting President Carolos Papoulias and before meeting Prime Minister Lucas Papademos.
Meanwhile, the Bank of Greece has said the country's struggling economy will contract by another 4.5% this year ahead of a possible rebound in 2013. It added that the economy, now in a fifth year of recession, shrank by 6.9% in 2011.
Despite a wave of austerity measures imposed in return for EU-IMF loans, the public deficit came in at 10.6% of GDP in 2011, the bank said, compared to a target of 9%.
"During 2013 it is estimated that the economic recovery can begin," it said.
The IMF last week decided a new €28 billion loan for Greece. The loan approval came days after euro zone ministers signed off on their part of a huge €237 billion rescue plan for Greece that combines €130 billion in new financing and €107 billion of debt reduction by the private sector.
The IMF last week said the Greek economy was expected to exit recession only in 2014, not 2013 as forecast in December.
