Greece raises 1.3 billion euros in T-bill sale

(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.