The Greek government has announced further reforms after the rating agency S&P awarded it investment rating. “We are determined to continue our reform agenda,” said Prime Minister Kyriakos Mitsotakis. S&P had upgraded Greece to the first level of investment rating (BBB-).
“We are proud,” added Mitsotakis. The upgrade would attract investment, create jobs and enable growth, he wrote on the platform X (formerly Twitter). Athens’ rating was downgraded to junk status in 2010 because of its national debt. This generally makes it significantly more expensive for governments to borrow money from international investors. With the help of billions in loans from the other euro countries, the International Monetary Fund and the European Central Bank and numerous reforms and privatizations, the country was able to emerge from the crisis in 2018.