Social security fund IKA borrows to stay afloat
- Written by E.Tsiliopoulos
The Social Security Foundation (IKA), Greece’s largest pension fund, has decided to take short term loans worth €360 million in order to pay June’s pensions to its members, financial site enikonomia.gr reports.
IKA’s governing board yook the decision on Monday.
The loan consists of €150 million in repos from a private bank, using Greek Treasury bonds that IKA owns as collateral, and the rest from cash reserves of three other funds, including €100 million from the Public Power Corporation (PPC) employees’ insurance fund.
Tagged under
Related items
-
Marinakis: There is no question of Greece's involvement in an operation in the Strait of Hormuz
-
Distinguished Cypriot chef Andreas Mavrommatis dies at age 69
-
Nea Makri: Three Turks arrested for shooting at car
-
Women Forward Summit in Athens highlights equality, leadership and the future of work
-
Greek-born casting director Cassandra Kulukundis makes Oscar history with first Best Casting award
Latest from E.Tsiliopoulos
- Marinakis: There is no question of Greece's involvement in an operation in the Strait of Hormuz
- Distinguished Cypriot chef Andreas Mavrommatis dies at age 69
- Nea Makri: Three Turks arrested for shooting at car
- Women Forward Summit in Athens highlights equality, leadership and the future of work
- Greek-born casting director Cassandra Kulukundis makes Oscar history with first Best Casting award
