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Greek borrowing rates unchanged in latest auction

Greece's debt agency says demand for latest T-bill sale was 1.6 times the amount on offer
Greece's debt agency says demand for latest T-bill sale was 1.6 times the amount on offer

Greece has raised €1.3 billion in an auction of six-month treasury bills at an interest rate of 4.25%, unchanged from an auction last month.

The government's Public Debt Management Agency said demand for the bills today was 1.6 times the amount on offer.

Greece's government has been frozen out of the longer-term bond markets since 2010, when its high debts spooked investors, forcing it to ask for international rescue loans.

However, it maintains a market presence with regular T-Bill auctions.

Debt inspectors from the European Central Bank, European Union and International Monetary Fund are due to meet Finance Minister Yannis Stournaras later today.