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" Downgrade"

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Egypt - Foreign Affairs
2/12/2024 2:07:28 PM
Egypt has warned Israel that it will “review and downgrade the diplomatic relations” in case Tel Aviv moves forward with its plan – announced by Israeli Prime Minister Benjamin Netanyahu – to storm the border town of Rafah, Saudi TV channel Al-Arabiya reported citing unnamed sources.

Business - Economy
1/30/2024 3:06:10 PM
The International Monetary Fund (IMF) has downgraded its forecasts for Egypt’s real GDP growth in the current FY2023/2024 to three percent, down from the 3.6 percent it projected in October, according to the updated World Economic Outlook (WEO) report released on Tuesday.

Business - Economy
1/9/2024 10:55:54 PM
The World Bank downgraded its forecasts for Egypt’s real GDP growth for 2024 to 3.5 percent from 3.7 percent in a previous estimate, according to the Global Economic Prospects report released on Tuesday.

Business - Economy
11/29/2023 10:31:51 PM
African Development Bank (AfDB) downgraded its forecast of the growth rate of the gross domestic product (GDP) of Africa for 2023 and 2024 to 3.4 percent and 3.8 percent, respectively, from 4.0 percent and 4.3 percent.

Business - 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.

Business - Economy
10/26/2023 12:42:16 PM
S&P Global has revised down the long-term credit ratings for three Egyptian banks; including two major state-owned banks, to B- from B.

Al-Ahram Weekly - Economy
10/24/2023 9:59:54 PM
Niveen Wahish looks at the effects of credit downgrades and the war in Gaza on Egypt’s economy

Business - Economy
10/21/2023 5:07:34 PM
S&P Global Ratings agency (previously Standard & Poor's) has downgraded Egypt's long-term sovereign credit rating in local and foreign currencies to B- from B, placing the outlook at stable, according to a report by the agency on Friday.

Business - 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.

Business - 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.

Business - 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.

Business - Economy
9/4/2023 3:17:46 PM
Capital Intelligence (CI) Ratings has lowered Egypt’s long-term foreign and local currency ratings to B from B+, revising the outlook to stable from negative, according to a statement.

Business - Economy
8/2/2023 4:33:49 PM
Fitch has downgraded its credit rating for the United States, becoming the second of the top-three ratings agencies to strip the country of a top AAA rating. The impact upon the world's top economy is likely to be just symbolic, at least immediately.

Business - Economy
8/2/2023 10:46:12 AM
Fitch downgraded the United States' top-notch credit rating by a step on Tuesday, citing a growing federal debt burden and an "erosion of governance" that has manifested in debt limit standoffs.

Business - Markets & Companies
7/13/2023 9:21:21 PM
The Egyptian Exchange (EGX) indices saw mixed performance during the week ending on 13 July—the week started with declines caused by concerns over the current fiscal gap in Egypt and the economy's downgrade on the MSCI index.

Business - Economy
5/28/2023 1:02:03 PM
France is in "very close talks" with debt rating agency Standard and Poor's, Prime Minister Elisabeth Borne said Sunday, after a downgrade from rival Fitch reignited government finance concerns in the EU's second-largest economy.

Business - Economy
5/17/2023 9:10:15 PM
Fitch Ratings downgraded on Wednesday four Egyptian banks' Long-Term Issuer Default Ratings (IDRs) to 'B' from 'B+' and Viability Ratings (VRs) to 'B' from 'B+', and maintained their outlooks as Negative.

Business - Economy
5/16/2023 11:43:23 AM
For the second time since February, the European Bank for Reconstruction and Development (EBRD) has downgraded its forecast for Egypt’s real GDP growth to 4.2 percent, a 0.1 percent decrease from its outlook in February and increased its forecast by 0.2 percent in 2024.

Al-Ahram Weekly - Egypt
5/9/2023 8:22:20 PM
Following downgrades by several rating agencies, the government has been fending off criticism of its economic policies, writes Doaa A. Moneim

World - International
5/8/2023 10:11:38 AM
The World Health Organization said Friday that COVID-19 no longer qualifies as a global emergency, marking a symbolic end to the devastating coronavirus pandemic that triggered once-unthinkable lockdowns, upended economies and killed millions of people worldwide.

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