Exciting news for Greece as FTSE Russell includes the Athens Stock Exchange in the shortlist for upgrading to the category of developed markets. The move follows Greece being added to the Watch List for a possible upgrade from “Advanced Emerging” to “Developed Market” status, meeting the necessary criteria.
The Minister of National Economy and Finance, Kostis Hatzidakis, highlighted the positive impact of this development on the economy, attributing it to successful moves in privatizations and financial stability measures. This upgrade opens up opportunities for Greece to attract additional funds, improve financing conditions for listed companies, and stimulate productive investments and job creation.
Greek officials, including Giannos Kontopoulos and Hatzidakis, are optimistic about the Athens Stock Exchange’s progression towards joining the world’s leading capital markets. The upgrade comes after eight years in the emerging markets category, reflecting the progress made by the Greek market and listed companies.
As ATHEX anticipates a return to developed markets with Standard & Poor’s and plans for further evaluations from MSCI and S&P, this move marks a significant milestone following the recovery of the Greek sovereign rating.