Investment grade to bring in foreign cash

The governor of the Bank of Greece, Yannis Stournaras, described the recovery of investment grade as a big challenge for the Greek government at the moment, stating however that he is confident that it will happen this year and will bring more direct foreign investments.

As he noted in an interview with Econostream, the Greek economy is entering a phase of higher growth than the European average, while at the same time the public debt-to-GDP ratio is rapidly decreasing. "The new government is determined to push through a series of reforms that the economy needs. It has a clear political horizon of at least four years. The big challenge now is to recover investment grade," he emphasized.

Regarding the impact of such a development on the economy, he explained that to some extent it has already happened. "For example, it is already reflected in Greek bond yields. But it...