March 15, 2025 - 15:09
In a significant move, Greece's center-right government celebrated a credit rating upgrade from Moody's, the final major ratings agency to elevate the nation's bonds from junk status. This upgrade comes after a prolonged period of economic hardship that began 15 years ago during a severe debt crisis. Moody’s attributed the upgrade to the rapid improvement in Greece's public finances, which exceeded expectations.
The agency commended the government's policy direction, highlighting institutional advancements and a stable political environment as critical factors in its decision. Moody's expressed confidence that Greece will maintain substantial primary surpluses, which are expected to gradually reduce the country's high debt burden. This upgrade not only reflects the progress made in Greece's economic recovery but also signals a more favorable investment climate, potentially attracting foreign investments and boosting growth prospects. The government views this development as a pivotal moment, marking a transition away from a painful era of financial instability.
