{"id":586897,"date":"2023-05-18T00:00:00","date_gmt":"2023-05-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/too-many-zimmer-frames-worse-credit-ratings\/"},"modified":"2023-05-18T00:00:00","modified_gmt":"2023-05-18T00:00:00","slug":"too-many-zimmer-frames-worse-credit-ratings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/too-many-zimmer-frames-worse-credit-ratings\/","title":{"rendered":"Too many zimmer frames = worse credit ratings"},"content":{"rendered":"

Aging<\/span> populations are putting government\u2019s credit ratings at risk<\/span>, reports the <\/span>Financial Times<\/a><\/span>. Higher interest rates are exacerbating already increasing pension and healthcare costs in developing countries as populations age \u2014 leading all three major credit rating agencies to warn that without sweeping reforms, governments can expect downgrades. Moody\u2019s, S&P and Fitch have all said that countries including the US, EU, and Japan are in danger of downgrades as the cost of borrowing rises \u2014 potentially putting them in a \u201cvicious cycle\u201d of borrowing more at higher rates. <\/span><\/p>\n

S&P expects that roughly half of the world\u2019s largest economies will have been downgraded to junk by 2060<\/span>, up from a current level of around a third, if they can\u2019t reduce the costs associated with aging demographics, the FT reported. The rating agency estimated that the typical government would run a deficit of 9.1% of GDP by 2060 \u2014 up from a projected 2.4% in 2025 \u2014 as spending on pensions and healthcare rises. \u201cThe longer governments defer action, then the more painful that action will be,\u201d said Edward Parker, global head of research for sovereigns and supranationals at Fitch.<\/span><\/p>\n

<\/a><\/a><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/span><\/p>\n<\/td>\n

\n

16,844<\/span><\/p>\n<\/td>\n

\n

-1.1% (YTD: +15.4%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/span><\/p>\n<\/td>\n

\n

Buy 30.84<\/span><\/p>\n<\/td>\n

\n

Sell 30.96<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/span><\/p>\n<\/td>\n

\n

Buy 30.85<\/span><\/p>\n<\/td>\n

\n

Sell 30.95<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/span><\/p>\n<\/td>\n

\n

18.25% deposit<\/span><\/p>\n<\/td>\n

\n

19.25% lending<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/span><\/p>\n<\/td>\n

\n

11,278<\/span><\/p>\n<\/td>\n

\n

+0.6% (YTD: +7.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/span><\/p>\n<\/td>\n

\n

9,526<\/span><\/p>\n<\/td>\n

\n

+0.5% (YTD: -6.7%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/span><\/p>\n<\/td>\n

\n

3,566<\/span><\/p>\n<\/td>\n

\n

+1.6% (YTD: +6.9%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/span><\/p>\n<\/td>\n

\n

4,159<\/span><\/p>\n<\/td>\n

\n

+1.2% (YTD: +8.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/span><\/p>\n<\/td>\n

\n

7,723<\/span><\/p>\n<\/td>\n

\n

-0.4% (YTD: +3.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/span><\/p>\n<\/td>\n

\n

4,323<\/span><\/p>\n<\/td>\n

\n

+0.2% (YTD: +14.0%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/span><\/p>\n<\/td>\n

\n

USD 76.77 <\/span><\/p>\n<\/td>\n

\n

+2.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/span>(Nymex)<\/span><\/p>\n<\/td>\n

\n

USD 2.38<\/span><\/p>\n<\/td>\n

\n

0.0%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/span><\/p>\n<\/td>\n

\n

USD 1,984.90 <\/span><\/p>\n<\/td>\n

\n

-0.4%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/span><\/p>\n<\/td>\n

\n

USD 27,295<\/span><\/p>\n<\/td>\n

\n

+1.2% (YTD: +65.1%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/span><\/p>\n

The EGX30 fell 1.1% at yesterday\u2019s close<\/span> on turnover of EGP 1.92 bn. Foreign investors were <\/span>net sellers. The index is up 15.4% YTD.<\/span><\/p>\n

In the green: <\/span>Taaleem Management Services (+2.1%), Orascom Construction (+1.3%) and Telecom Egypt (+1.2%).<\/span><\/p>\n

In the red: <\/span>Oriental Weavers (-6.8%), Sidi Kerir Petrochemicals (-6.8%) and Ezz Steel<\/span><\/p>\n

Asian markets are up\/down in early trading this morning<\/span> and fut<\/span>ures suggest xx<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Big three rating agencies warn of fiscal impact of aging populations<\/p>\n","protected":false},"author":1,"featured_media":586898,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"4ffdeb93-5743-4a02-8857-b259fdccba7d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1042.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Too many zimmer frames = worse credit ratings","related_issue":[586869],"teaser":"Big three rating agencies warn of fiscal impact of aging populations","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.a78c1e2d-82c5-4a7c-a191-fa76bfa645dc.mp3"},"yoast_head":"\nToo many zimmer frames = worse credit ratings - 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