Latest in Tag: Moody’s Highlight
Latest in Tag: Moody’s
Moody’s Investors Service announced on Sunday that Egypt’s first movable collateral registry, which was launched by the Financial Regulatory Authority last Sunday, is credit positive for Egyptian banks. The newly launched collateral registry will inform banks’ credit decisions and improve their ability to secure movable collateral, such as a borrowers’ machinery, inventory, patents, and crops, …
The latest amendments to Egypt’s Capital Market Law, recently approved by parliament, are credit positive for the country’s banks, according to a statement issued by the credit rating agency Moody’s on Monday. According to the statement, the amendments will improve and deepen Egypt’s financial markets and investors’ ability to hedge, making the country a more …
Debt to GDP ratio peaked at 100% in 2017, forecast to decline to 83% by 2021
Any increase in fuel or food prices would reverse the subsidy reforms
Minister participates in IMF and World Bank meetings, meets major investment banks to review Egypt’s economic reforms
While Egypt’s IMF programme will support gradual improvements to the country’s fiscal and external position, its social and economic costs risk slowing the pace of fiscal reform, Moody’s Investors Service said in a report on Wednesday. “The implementation of the targets of the IMF programme—including reductions in fiscal deficits and government debt levels, as well …
The Egyptian economy will grow by 4.0% and 4.5% in 2017/2018, and the debt ratio will peak at 105.9% of GDP in 2017 before declining to 105.5% in 2018.
The increase in benchmark rates will support banks’ profitability, says the credit rating agency
In terms of debt and its impact on companies’ credit profiles, the report said there would be a gradual recovery until the industry’s net debts have stabilised
Moody’s forecasts insurance expansion as economy stabilises and recovers, despite glaring structure concerns
The devaluation of the Egyptian pound in March put upwards pressure on the already high inflation rate
Egypt’s current economic troubles and reform efforts have been the main topic of discussion in a slew of articles recently, many of which pin the blame on the country’s ruling regime, such as Bloomberg’s “Egypt’s Failing Economy is Sisi’s Fault”. The government, however, is not only battling against the challenges of the present, but also …
Moody’s most recent report on Egypt says that the government will most likely fall short of its targeted budget deficit due to “slippages in revenue targets”
The credit rating agency affirmed DP World Sokhna’s credit rating and fiscal security as the multi-national commerce company plans massive expansion
GCC countries will continue to struggle with economic, financial, and foreign challenges, Dyck says
Egypt’s economic and financial strength, debt, and risk levels remain unchanged despite notable government improvements, says investor service
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The current account deficit reached $14.5bn, up from $8.3bn the previous year
Small and medium-sized enterprises (SMEs) have aided Egypt’s economic recovery, but there is still room for improvement, says report by Oxford Business Group
Moody’s did not upgrade Egypt’s credit rating, but gave a positive outlook owing to stable short- and medium-term indicators
Moody’s forecast of Egypt’s economic growth is lower than the government’s predictions
Flexible exchange rate can offset some major challenges, Moody’s says
The sale of US certificates for sale to Egyptian expatriates will increase the three government-owned banks’ dollar funding; a credit positive especially since bank dollar liquidity has tightened in recent months, according to Moody’s released Wednesday
The CBE decision included high-priority products, such as pharmaceuticals, production inputs, raw materials, food, and industrial machinery, excluding other luxury goods.
The report explained that these regulations will mitigate the credit risk in banks’ growing retail portfolios and will reduce banks’ asset quality vulnerability that has been the result of focusing on large single-corporate customers.
Egypt’s Higher SME Lending Quota Supports Economy but threatens Banks’ Asset Quality
One-year External Default Frequency for Egyptian government debt increased from 0.09% in early October to 0.18%
Although government financing needs remain large, Moody’s expects economic reform will help reduce fiscal deficits and government debt