Greece raises 1.3 billion euros in T-bill sale

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ATHENS, Greece (AP) — Greece has raised €1.3 billion ($1.71 billion) in a treasury bill auction at slightly lower interest rates compared with the last such sale five weeks ago.

The government's Public Debt Management Agency said the 13-week T-bills were sold Tuesday at an interest rate of 4.11 percent, edging down from the 4.2 percent rate on Nov. 13.

Greece on Monday received a massive rescue loan installment worth €34.3 billion, after completing a bond buy back deal last week, in which it paid €11.29 billion to cancel debt worth €31.9 billion.

The government said Tuesday that deficit cutting efforts remained on target, with the January-November shortfall at €12.9 billion, compared with €21.5 billion for that period in 2011.