Greece can regain investment grade rating in 2023 – PM

Greece is a step away from regaining its investment grade rating, Prime Minister Kyriakos Mitsotakis said on Monday, adding he still believed it was “feasible” within 2023, after elections.

The eurozone country has been hoping to regain its investment grade rating, denoting creditworthiness, since it emerged from bailouts in 2018, after a decade-long debt crisis.

Mitsotakis, whose term ends in July, initially estimated this would happen in late 2022 or early 2023, before a parliamentary election creates an environment of political uncertainty.

“The only piece of the puzzle missing for Greece to return to full European normality is regaining investment grade, which I believe is totally feasible within 2023,” Mitsotakis said.

“Of course markets and rating agencies are waiting to see what will happen in the elections,” he told reporters, adding that if his party were to be elected, regaining investment grade would be a matter “of a few months”.

His New Democracy party is leading in opinion polls over the leftist Syriza party, the main opposition, but elections will be held under a system that makes it hard for any candidate to win outright and may lead to a second vote.
Source: Reuters