European debt crisis
Standard & Poor’s: Upgraded Greece to BB + with stable prospects
The American rating agency Standard & Poor's upgraded Greece's credit rating from grade BB to BB +, with a stable outlook, bringing the country just one step from the investment grade.
Greece completes early repayment of bailout loans to IMF
Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the country's finance minister said on April 4.
Christos Staikouras hailed the payment as "a very positive development" that would mean significant savings in debt servicing costs.
Klaus Regling: Greece has prospects for greater growth
Next week marks the 10th anniversary of the establishment of the European Stability Mechanism (ESM) on 2 February 2012.
The ESM is a child of the euro crisis, it was directly connected to the biggest debt crisis that Greece went through after the war and it reminds the Greeks of the most difficult moments of the last decade.
Greek economy – International ratings agencies predict strong growth prospects
International credit rating agencies "see" strong prospects for the development of the Greek economy, on which, after all, the upgrades of the Greek debt in the last two years were based to a significant degree.
Stournaras – GDP growth will exceed 6%
Greece's pandemic-battered economy will bounce back even more quickly than its government projects and could return to pre-crisis levels this year, according to Bank of Greece Governor Yannis Stournaras.
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Greece plans early repayment of loans
Greece is "getting rid" of expensive debt, laying the groundwork for the early repayment of part of the bilateral loans from the first Memorandum of 2010 (2.7 billion euros per year) and the further repayment of IMF loans (1.9 billion euros). The signal was officially sent by the Minister of Finance Christos Staikouras and according to information, these moves will start in the near future.
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EU Finance Ministers Meet in Slovenia Friday Saturday to Amend Budget Spending Rules for Member States
European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.
Now, the European Union faces calls to loosen its budget rules to allow the largesse to continue, but the topic is a sensitive one for many member states.
Citigroup: Upgraded its forecast for Greece’s GDP in 2021 to 5.3%
Citigroup has launched its new monthly report on the global economy, upgrading its forecast for growth in Greece in 2021 to 5.3% (from 4.1% previously). However, it limited its forecast for GDP growth in 2022 to 5% (from 6.5% previously), .
Standard & Poor’s Confirmed Credit Rating Outlook of Bulgaria as Stable
The American Credit Rating Agency S&P Global Ratings has confirmed the long-term and short-term foreign and local currency sovereign credit ratings on Bulgaria at 'BBB/A-2', the country's rating remains stable, the Finance Ministry reported.
Goldman Sachs expects 7% growth of the Greek economy by 2026
Goldman Sachs estimates that the Greek economy is expected to gain momentum, with a boost from the resources of the Recovery Fund, after the submission of the "Greece 2.0" plan.
As Goldman Sachs points out in a new report entitled "Small economies, old challenges and new opportunities" that the Recovery Fund will lead to an increase in Greek GDP by at least about 7% by 2026.