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Wednesday, November 30, 2022
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GreeceBusinessEBRD president notes Greece's impressive progress in reforms, in ANA interview

EBRD president notes Greece’s impressive progress in reforms, in ANA interview

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Greece has made particularly impressive progress in its reform efforts, the president of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso said in an exclusive interview with the Athens-Macedonian News Agency, given to Nikos Drosos during the 7th Delphi Economic Forum and published on Tuesday.

She noted that the present government had implemented a huge reform agenda that included many aspects of the digital transition in public administration and the management of public-sector companies, such as the Public Power Corporation.

“The reform process was very serious, very reliable and Greece’s ability to attract international investors has changed entirely. Particularly symbolic of this was the buyout of Viva Wallet by J.P. Morgan,” the EBRD president said.

Despite have been revised downward as a result of the current crisis, the EBRD forecasts GDP growth rates of 2.9 pct in Greece in 2022 and 3.5 pct in 2023. Renaud-Basso also noted that, in her meetings with the Greek government, it was made clear that the targets for a green transition and phasing out lignite are unchanged, both in terms of core targets and strategies and in terms of timing.

In the interview, she also referred at length to Ukraine and the EBRD’s role there, both at the present time and in future rebuilding efforts, as well as referring to the impact of the war on the global economy and Greece.

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According to Renaud-Basso, the fuel prices shock in particular had led to a downward revision of the EBRD’s original forecasts for GDP growth rates in Greece, shaving off roughly 1 pct, though they remained in clearly positive territory.

She ruled out EBRD investments in power production using lignite, saying the bank will invest in renewables and company sustainability policies, noting that Greece has huge potential in this area.

SOURCE; AMNA

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