ECONOMY

NY forum reveals funds’ worries on Greek economy

ny-forum-reveals-funds-worries-on-greek-economy

The majority of foreign investors continue to have considerable reservations about Greece, despite its emergence from the bailout programs more than 100 days ago.

That became clear during meetings between Finance Minister Euclid Tsakalotos and investors in New York on Monday and Tuesday, as well as contacts with bankers and senior officials of Greek companies in the context of the 20th Invest in Greece – Capital Link Forum.

Kathimerini sources spoke of great interest in Greece at this year’s event, but this was accompanied by greater concern. Foreign funds may see notable fiscal progress, but they also perceive three challenges lying ahead: the political risk as the 2019 general election approaches, danger that the reforms may not proceed, and the various questions hanging over the bank sector.

Sources added that during Tsakalotos’s two rounds of talks with a total of 45 investors, the foreign funds focused their questions on the country’s course under a variety of election scenarios, with a US fund manager telling Kathimerini that “what we seek to find out at the moment is the developments around the challenges the Greek sector is facing, and the election timetable.”