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Interest rate cut to reduce borrowing costs: Moody’s

Egypt’s key credit challenges, including weak finances, large financing need, and high borrowing cost, drive exposure to interest rate shocks as well as large domestic funding cost to remain high, Elisa Parisi-Capone, vice president and senior analyst at Moody’s Investors Service, told Daily News Egypt. Moody’s believes that interest rate cut will be a step …

Daily News Egypt

Stable outlook for Levant, North Africa in 2019, although slowing reforms point to downside risks: Moody’s

The 2019 stable outlook for sovereign creditworthiness in the Levant and North Africa region reflects support from modest domestic growth and some expected further progress on fiscal consolidation, set against the slowing pace of structural and fiscal reforms in most countries, Moody’s Investors Service said in a report on Tuesday. The report titled, “Sovereigns – …

Daily News Egypt

Beltone downplays Moody’s short-term debt concerns

Beltone, expects that Egypt to continue the current trend depending on the external debt market to benefit from restoring investor’s confidence, according to a research note released by the firm. The note indicates that despite the current improvement in economic indicators, local currency deposits for new T-bills only cover 35% of the budget deficit in …

Daily News Egypt

Moody’s AFP

Moody’s ranks Egypt’s 1st movable collateral registry as credit positive for banks

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, …

Mohamed Samir

Moody’s AFP

Egypt’s Capital Market Law amendments are credit positive: Moody’s

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 …

Daily News Egypt

Egypt’s IMF programme to support fiscal, external positions: Moody’s

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 …

Hisham Salah

A survey of western opinion on Egypt’s plans for reform

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 …

Nicholas Mehling