Greece months away from investment-grade rating, central banker tells FT

Bank of Greece head Yannis Stournaras is adamant 2023 will be the year when the country consigns its junk status to history.

Greece is close to regaining its investment-grade credit rating in 2023, after 12 years of relegation to junk status, the Financial Times reported on Tuesday.

“We think that 2023 is the year will get the investment grade,” Greek central bank chief Yannis Stournaras said in an interview with the paper, urging the country’s next government to maintain fiscal prudence.

Stournaras told FT he was “confident” that credit rating agencies would upgrade Greek bonds within months should lawmakers signal their intent to maintain reforms and take advantage of a “window of opportunity” to significantly lower the country’s debt burden.

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