BoG revises growth forecast down to 3.2 pct amid growing uncertainty
Credit growth accelerates to 3.2 pct in May, led by loans to businesses
PBO urges continued fiscal discipline amid growing instability
Rising bond yields a concern, but not an immediate fiscal problem
OECD finds tax cuts linked to pandemic helped reduce wedge on labour
Reopening of 7-year bond affirms tougher conditions on sovereign debt market
Moody’s affirms Greece’s rating at Caa3 with stable outlook
In its scheduled rating review, Moody’s affirmed Greece’s rating at ‘Caa3’ with a stable outlook.
The rating incorporates a high level of implementation risk given Greece’s weak institutions, social and political fragmentation as well as historically weak reform track record.
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