Arab Today, arab today fitch keeps greeces highrisk rating as default looms
Last Updated : GMT 16:25:41
Arab Today, arab today
Arab Today, arab today

Lack of market access put pressure on government

Fitch keeps Greece's high-risk rating as default looms

Arab Today, arab today

Arab Today, arab today Fitch keeps Greece's high-risk rating as default looms

Ratings firm Fitch
Washington - Arab Today

Ratings firm Fitch kept Greece's high-risk credit rating unchanged Friday, saying the risk that the eurozone country would default on its debt was a "real possibility".

Fitch Ratings affirmed the "CCC" rating it gave the debt-riddled eurozone country in late March in a two-notch downgrade from "B."

"Lack of market access, uncertain prospects of timely disbursement from official institutions, and tight liquidity conditions in the domestic banking sector are putting extreme pressure on Greek government funding," Fitch said in a statement.

"We expect that the government will survive the current liquidity squeeze without running arrears on privately held bonds, but default is a real possibility."

Since the Fitch rating downgrade in March, negotiations between Greece and its official creditors -- the European Union, the European Central Bank and the International Monetary Fund -- have stumbled while the financial situation of the new radical Syriza-led government has continued to deteriorate.

"The damage to investor, consumer and depositor confidence has derailed Greece's economic recovery," Fitch said. "The damage will take time to repair even if prospects for a successful program completion improve over the coming days or weeks."

The ratings firm forecast zero growth in the economy this year, with risks "heavily tilted" toward a contraction, as the country runs out of cash and faces debt payments to its creditors.

Still, Fitch said it was likely that Greece will reach a compromise deal with its official creditors, which are demanding certain reforms in exchange for financing.

"As a minimum requirement, we expect that the Eurogroup (eurozone finance ministers) will want the Greek government to demonstrate that it has taken some legislative action on structural reform before funds are disbursed. However, as yet, the reforms themselves have not yet been agreed. Time is therefore running short."
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fitch keeps greeces highrisk rating as default looms Arab Today, arab today fitch keeps greeces highrisk rating as default looms

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fitch keeps greeces highrisk rating as default looms Arab Today, arab today fitch keeps greeces highrisk rating as default looms

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday