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" Downgrade"

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Business - Economy
5/6/2023 6:38:31 PM
Minister of Finance Mohamed Maait attributed Fitch Ratings' decision to downgrade Egypt's sovereign credit rating -- giving it a Negative Outlook --to the country's continuous struggle against the extreme external pressures resulting from complex global challenges.

World - International
5/5/2023 4:40:34 PM
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 worldwide, and killed at least 7 million people worldwide.

Business - Economy
4/11/2023 7:47:35 PM
Deputy Director of the Research Department at the International Monetary Fund (IMF) Petya Koeva Brooks said on Tuesday that the fund downgraded the growth forecast for Egypt in 2023 due to the impact of high financing costs and the depreciation of the Egyptian pound.

Business - Economy
4/11/2023 3:08:52 PM
The International Monetary Fund (IMF) has revised down Egypt’s expected real GDP growth for the second time since October, according to the World Economic Outlook (WEO) report the fund released on Tuesday.

Business - Economy
2/16/2023 10:48:02 AM
The European Bank for Reconstruction and Development (EBRD) has downgraded its forecasts for Egypt’s output growth in 2023 to 4.3 percent, down from five percent it projected in May, before bouncing back to five percent in 2024, according to the bank’s update on the Regional Economic Prospects Report the bank issued on Thursday.

Business - 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.

World - War in Ukraine
1/23/2023 4:23:01 PM
Moscow on Monday downgraded diplomatic relations with Estonia and ordered its ambassador to leave Russia, accusing the Baltic country of "total Russophobia."

Business - Economy
12/22/2022 3:28:45 PM
The World Bank has revised down predictions for Egypt’s real GDP growth in FY2022/2023 to 4.5 percent, down from 4.8 percent it expected in October and below the 6.6 percent the country attained in FY2021/2022.

Business - Economy
10/11/2022 7:50:00 PM
Global growth is expected to slow further next year, the IMF said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiraling cost-of-living and economic downturns.

War in Ukraine - Military
9/6/2022 10:49:45 AM
The Russian Ministry of Defense is in the process of purchasing millions of rockets and artillery shells from North Korea for its ongoing fight in Ukraine, according to a newly downgraded U.S. intelligence finding.

Business - Economy
7/26/2022 3:17:31 PM
The International Monetary Fund (IMF) downgraded global real GDP growth for the second time since the outbreak of the Russian-Ukrainian War to 3.2 percent, down from the 3.6 percent it projected in April and 6.1 percent it expected in 2021.

Business - Economy
6/19/2022 3:14:32 PM
Fitch Solutions revised down Egypt’s real GDP growth for the upcoming FY2022/2023 — Which starts on 1 July — to 4.9 percent, down from the 5.5 percent it initially projected.

Egypt - Politics
5/30/2022 7:01:52 PM
The Russia-Ukraine crisis has led to Egypt’s projected growth rate being downgraded to 6 percent at the end of the current fiscal year and to an expected 5.7 percent in FY2022/23, Minister of Planning and Economic Development Hala El-Said said in a statement before the Senate – Egypt's consultative upper house.

Business - Economy
4/27/2022 2:02:37 PM
The International Monetary Fund (IMF) has downgraded its projection for the real GDP growth in the Middle East and North Africa (MENA) region to five percent, down from 5.8 percent in 2021.

War in Ukraine - Economy
4/9/2022 11:20:22 PM
The credit ratings agency Standard & Poor's has downgraded its assessment of Russia's ability to repay foreign debt, signaling rising prospects that Moscow will soon default on external loans for the first time in more than a century.

Business - Economy
1/11/2022 4:36:37 PM
Global GDP growth is projected to slow down significantly in 2022 to 4.1 percent in 2022 and 3.2 percent in 2023, down from 5.5 percent recorded in 2021, the World Bank announced on Tuesday

World - Region
12/13/2021 1:58:20 PM
The Turkish currency dipped to an all-time low Monday amid another anticipated interest rate cut later this week and after the S&P credit rating agency downgraded its outlook for Turkey.

World - International
11/21/2021 10:26:53 AM
China has officially downgraded diplomatic ties with Lithuania in protest, the foreign ministry in Beijing said Sunday, after Taiwan established a de facto embassy in Vilnius.

Business - Economy
6/8/2021 4:27:28 PM
Citing Egypt, the report noted that the country’s forecasts in FY2020/21 reflect damage to tourism, manufacturing, and oil and gas extraction from the pandemic, before strengthening again in FY 2021/22.

Business - Economy
4/19/2021 4:51:05 PM
Despite that, Fitch Solutions said in its report that Egypt is one of the few countries globally to see real GDP growth amid the COVID-19 crisis

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