ATHENS, Greece – Greece yesterday raised euro1.625 billion (US$2.04 billion) in a debt auction — its first since getting bailed out in May — which attracted strong investor interest.

The country’s Public Debt Management Agency said the sale of 26-week treasury bills was oversubscribed 3.64 times, at an interest yield of 4.65 per cent.

The sale was seen as an important test of Greece’s financial recovery effort amid continued Europe-wide concern over sovereign debt.

The debt agency said the final amount taken was euro1.625 billion, after it accepted an additional euro375 million (US$471 million) in non-competitive bids for the auction of euro1.25 billion.

The government has said it hopes to return to international bond markets with long-term debt issues in 2011.

Debt-strapped Greece narrowly avoided default in May, when it received the first installment of a euro110 billion rescue package from euro-currency partners and the International Monetary Fund.

To secure the loans, Greece’s center-left government imposed painful austerity measures and began overhauling its pension and labor systems, angering labor unions and triggering a series of strikes and protests.

In Athens, the ancient Acropolis was closed for several hours yesterday by site workers who were demanding backpay.

Flights are also set to be disrupted Thursday, with air traffic controllers planning a work stoppage between 0800 and 1200 GMT.

On Monday, the Finance Ministry said Greece’s bloated budget deficit has been cut by 46 per cent in the first half of the year, beating government targets.

It said overspending was reduced to euro9.6 billion in that period from euro17.8 billion in the first half of 2009.

Greece has promised to bring the deficit from a hefty 13.6 per cent of annual output in 2009 to 8.1 per cent in 2010.