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Catalonia: threat of mass disaffection scares independence parties into accord
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April 25, 2021
WASHINGTON (AFP) – S&P Global Ratings on Friday upgraded Greece’s debt to grade BB with a positive outlook as it predicted its economy would rebound over the next two years after the COVID-19 pandemic caused a contraction in 2020.
The upgrade from Greece’s previous BB- grade came as the ratings agency predicted the country would see economic growth of 4.9 per cent this year and 5.8 per cent in 2022, after contracting 8.2 per cent last year amid the pandemic.
“The upgrade reflects our expectation of a rapid improvement in Greece’s economic and budgetary performance as the adverse impacts of the COVID-19 pandemic subside. The government’s policies should enable progress on budgetary consolidation and structural reform,” S&P said.