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Fitch Ratings downgrades our credit rating for the first time since 2013
Medium-term debt sustainability at risk
Fitch cuts outlook on Egypt to negative, affirms B+ rating
Fitch Ratings has cut its outlook on Egyptian debt from “stable” to “negative” due to “deterioration” in the country’s external…
Fitch slashes Egypt’s GDP growth forecast for next fiscal year by more than 1 point
Fitch has cut Egypt’s GDP growth forecast for FY2022-2023 to 4.4% from a prior projection of 5.5%, saying the economy…
Gov’t lowers economic growth target for next fiscal year Plus: Remittances were up again in March
The Madbouly government has cut its 2022-2023 growth forecast to 4.5% from 5.5%, a cabinet statement quoted Prime Minister Moustafa…
Planet Finance: Standard Chartered is pulling back from MEA, but still wants to enter Egypt
Standard Chartered plans major exit in MEA markets — but still wants to enter Egypt: Standard Chartered is completely shutting…
IMF program + rate hikes in the cards as Ukraine war pressures budget -Fitch
Fitch sees new IMF program, rate hike as Ukraine conflict raises pressure on gov’t finances: Lower tourism inflows, higher food…
The case for investing in EM economies has “rarely been weaker,” argues the FT
With EM economies facing slowing growth, soaring debt, and imminent US interest rate hikes, the case for investing in them…
Fitch thinks Egypt could be up for another IMF program
Egypt’s high exposure to external financing could lead the government to seek a fresh IMF program, especially in the event…
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