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S&P’s upgrade of credit rating confirms Egypt is on right path: El-Garhy

Minister of Finance Amr El-Garhy welcomed the Friday decision of Standard & Poor’s (S&P) to raise Egypt’s credit rating to B from B-, stressing that this step confirms that the state is on the right path and asserts confidence in the Egyptian economic reform programme. El-Garhy added that the decision will contribute to attracting more …

Mohamed Samir

S&P downgrades UK credit rating

Ratings agency Standard & Poor’s has removed the UK’s coveted top credit rating status because of its vote to leave the European Union. S&P was the last of the big three credit assessment agencies to do so.

Deutsche Welle

S&P raises Egypt sovereign credit rating to B- from CCC+

Reuters – Standard & Poor’s Ratings has raised its long and short-term foreign and local currency sovereign credit ratings on the Arab Republic of Egypt to ‘B-/B’ from ‘CCC+/C’. The upgrade reflects S&P’s view that the Egyptian authorities have secured sufficient foreign currency funding to manage Egypt’s short-term fiscal and external financing needs. “We expect support from bilateral …

Daily News Egypt

Egyptian economy in freefall

Egypt’s ultimate economic policy challenge lies in how to reconcile the high expectations of ordinary Egyptians for better livelihoods while reducing the deficit and improving Egypt’s economy

Daily News Egypt

Egypt’s credit rating risks further devaluation

By Nasser Youssef Countries such as Egypt, who currently have a B rating need three years before their credit rating can improve Egypt’s credit rating could be downgraded once again if the country’s political situation does not improve, warned Nicholas Hardy, a representative from the Standard and Poor’s Credit Rating (S&P). He added that many …

Liliana Mihaila

Government to settle $318m worth of external debt

The Ministry of Finance in co-operation with the Central Bank have managed to allocate $318 million, which represents the value of public debt instalments owed by the government for bonds issued abroad in Egyptian pound  in 2007. A high-ranking source in the Ministry of Finance has affirmed the government’s commitment to the settlement of all instalments owed at …

Daily News Egypt

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