Business

Greece To Buy Back Bonds

NPR | Dec. 12, 2012 4:36 a.m. | Updated: Dec. 12, 2012 9:07 a.m.

Greece’s government says it will buy back nearly 32 billion euros of its bonds — that means the country would be erasing nearly $40 billion worth of debt. The country’s private-sector creditor agreed to sell off the bonds, though at sharply discounted prices. Getting rid of this chunk of debt should allow Greece to get more money from the International Monetary Fund.

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