Mr. Keravnos said that an echelon of the house is in Cyprus for discussions with the Cypriot authorities.
Optimism for the upgrade of the Cypriot debt to investment grade by the credit rating house Moody's, expressed the Minister of Finance Makis Keravnos, in view of the planned evaluation act by the international house which is set for September 29.
Responding to a related question after the end of the Cabinet session, Mr. Keravnos said that an echelon of the house is in Cyprus for discussions with the Cypriot authorities.
Mr. Keravnos he said he met with the cadre yesterday morning and added that “we had an in-depth discussion of various aspects”.
In particular, the Minister of Finance that the house is concerned with various aspects of our economic policy, such as whether there is an intention to continue the horizontal support measures, the restraint of the state payroll, what policies will be in the next period “to continue to have a sustainable economy and to maintain the surpluses necessary to meet the European Commission's budgetary frameworks and requirements until the end of 2026”.
“It was an in-depth discussion and I remain optimistic”, he emphasized.
It is noted that this house is the only one of the four internationally recognized houses that maintains the long-term credit rating of Cyprus in the garbage category, for 12 years in through a deep economic crisis. It is noted that the three houses S&P, Fitch DBRS Mornignstar upgraded the credit rating of Cyprus to investment grade in 2018, with their ratings being two levels higher than Moody's, which in the last rating act in August 2022 in confirmation of the Cypriot debt at Ba1, assigning a positive outlook.
