The negative impact of rising interest rates on Greek enterprises and households will be partially offset when Greece obtains the investment grade, Bank of Greece governor Yannis Stournaras said on Thursday, ANA reports.
In an interview with Econostream, the Greek central banker said regaining the investment grade was a great challenge for the country and predicted that this will happen within 2023.
Stournaras said that such a move by credit rating agencies was already reflected in Greek bond yields but has not yet been discounted on Foreign Direct Investment flows. He noted that only 10% of capital – such as private investment capital, for example – can invest in a country without the investment grade, adding that as a result a very big opportunity for foreign direct investments was created after the country obtains the investment grade.
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