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Business
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Economy
3/8/2024 2:16:58 PM
Credit-rating company Moody's Ratings (Moody's) has revised the outlook on Egypt to positive from negative amid game-changing economic measures, including the flotation of the Egyptian local currency and an increase in interest rates.
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Business
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Economy
2/1/2024 8:35:31 PM
Global investment banks Goldman Sachs and Pictet Asset Management issued recommendations urging investors to purchase Egypt's US dollar-denominated bonds, according to a report by Bloomberg.
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Business
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Economy
1/24/2024 2:36:33 PM
Global rating agency Moody’s has changed the future outlook for five major Egyptian state-owned and private banks from stable to negative, while maintaining their long-term deposit ratings at CAA1 and B3, according to a report by the agency on Tuesday.
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Business
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Economy
1/22/2024 6:05:09 PM
Global credit rating agency Moody's has expected the International Monetary Fund (IMF) to increase its existing $3 billion loan programme for Egypt to $10 billion, according to a recent report by the agency.
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Business
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Economy
1/19/2024 4:32:33 PM
Egypt’s Ministry of Finance Mohamed Maait stressed that the latest decision of global rating agency Moody's that fixed the country’s sovereign’s credit rating at Caa1 and revised its future outlook to negative “did not take into account the government’s current efforts.”
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Business
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Economy
12/16/2023 7:32:13 PM
Despite Egypt’s racing time to fulfill its commitments under the $3 billion loan deal with the International Monetary Fund (IMF), 2023 witnessed no progress from the Egyptian side in terms of the completion of the first and second reviews under the programme.
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Business
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Economy
11/4/2023 4:24:45 PM
Minister of Finance Mohamed Maait said that Fitch's latest move lowering Egypt’s credit rating reflects the country’s struggle against extreme external pressures resulting from complex global challenges including geopolitical tensions, according to a statement on Saturday.
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Business
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Economy
10/11/2023 10:39:50 PM
Major credit rating agency Moody’s downgraded the ratings of five key Egyptian state-owned and private banks to CAA1 and B3.
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Business
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Economy
10/10/2023 3:20:23 PM
The recent decision by international credit rating agency Moody's to downgrade Egypt’s credit rating from B3 to Caa1 will inflate the cost of borrowing and place a heavier debt burden on the country, experts told Ahram Online.
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Business
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Economy
10/7/2023 7:48:41 PM
Egyptian Minister of Finance Mohamed Maait said Moody's latest decision to revise the future outlook for the country’s economy from negative to stable reflects the government's efforts to accelerate structural reforms that encourage investment and empower the private sector.
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Business
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Economy
9/14/2023 10:57:55 PM
Moody's on Thursday downgraded China's property sector outlook to negative from stable, saying weaker growth was impacting homebuyers' spending.
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Al-Ahram Weekly
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Economy
9/2/2023 9:40:00 AM
In spite of the economic, fiscal, and financial reforms that the country has embarked on since signing the loan deal with the International Monetary Fund (IMF) in October last year, Egypt is still muddling through a myriad of economic challenges.
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Al-Ahram Weekly
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Egypt
2/17/2023 5:54:00 PM
Strategies had been adopted to reduce inflationary pressure.
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Business
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Economy
2/8/2023 3:15:30 PM
For the first time since May 2022, Moody’s has downgraded Egypt’s credit rating, Egypt's long-term foreign- and local-currency issuer ratings, from B2 to B3, changing the outlook from negative to stable, Moody’s Investors Service said on Tuesday.
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Al-Ahram Weekly
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Egypt
8/26/2022 5:35:00 PM
With a new governor at the helm of the Central Bank of Egypt, Al-Ahram Weekly examines likely changes to monetary policy.
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War in Ukraine
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Economy
6/28/2022 11:25:10 AM
Moody's ratings agency has confirmed that Russia defaulted on its foreign debt for the first time in a century, after bond holders did not receive $100 million in interest payments.
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Business
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Economy
5/27/2022 5:25:12 PM
Minister of Finance Mohamed Maait described on Friday Moody's decision to affirm Egypt's credit rating despite the complex external shocks facing the global economy and emerging countries as "a very positive decision."
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Business
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Energy
11/1/2021 12:54:18 PM
Global energy prices are expected to soften in 2022 as the current market dislocation issues are predicted to be resolved soon, Moody’s said on Monday.
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Business
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Economy
9/29/2021 2:21:35 PM
Emerging economies’ debt to GDP ratio edged up to 246 percent in the second quarter (2Q) of 2021, up from the 226 percent recorded at the end of 2019, according to Moody’s.
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Business
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Economy
9/13/2021 5:22:15 PM
The report comes in the wake of an announcement by the Bank of International Settlements and the central banks of Singapore, Australia, Malaysia, and South Africa that they had started testing CBDCs for cross-border settlements
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