Coronavirus a Temporary Shock for the Greek Economy, Moody’s Says

Greece's credit profile has a tendency of improvement, which was interrupted by the coronavirus spread and which is expected to be a temporary shock, Moody's Credit Ratings said on Friday.

In a report, the credit rating agency said Greece's public finances have significantly improved in the last few years and the government which was elected last July made a positive start focusing on an investment policy. It added, however, that future governments should maintain a prudent fiscal trend for a number of years to ensure the long-term debt sustainability, along with maintaining other reforms made in the last few years and to become more deep.

Moody's said that a strong point of Greece's credit rating included a relatively prosperous population, a favorable profile of debt servicing which offers fiscal flexibility, and a significant support by the Eurozone.

"Greece's credit rating could be upgraded if the government continued implementing its commitments towards the Eurozone, including reforms leading to an improvement of business climate and strong investments and maintaining strong public finances. A new boost to improve the health of the banking system could be also positive," the credit rating agency said.

It added that a downward pressure on the credit rating could arise if the government diverged from its commitments or because of renewed tensions with official creditors.


ATHENS - Greek Prime Minister Kyriakos Mitsotakis’ hopes of accelerating an economic recovery during the lingering COVID-19 pandemic are facing five hurdles even as it is still being monitored by the Troika of European bailout lenders.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.


Mission, TNH’s New Travel Documentary Series with Clelia Charissis

Every weekend, TNH and Clelia Charissis are on a mission, traveling around Greece and the world to highlight places through the people we meet along the way.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.