Spain adds €97.5bn of net funding in response to Covid-19
Spain’s economy ministry has announced an update to the sovereign’s 2020 funding programme, which will see it borrow much more than initially announced as it tackles the pandemic.
Spain has announced a net financing need of €130bn for 2020, of which 77.7% will come through medium and long term issues and 22.3% from short term instruments.
The sovereign previously announced a net financing need of €32.5bn for the year. It faces redemptions of €85bn in 2020....