{"id":637044,"date":"2017-11-07T04:09:36","date_gmt":"2017-11-07T04:09:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/another-pr-stunt-from-a-ratings-agency-egypt-is-now-a-member-of-a-re-born-fragile-five\/"},"modified":"2017-11-07T04:09:36","modified_gmt":"2017-11-07T04:09:36","slug":"another-pr-stunt-from-a-ratings-agency-egypt-is-now-a-member-of-a-re-born-fragile-five","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/another-pr-stunt-from-a-ratings-agency-egypt-is-now-a-member-of-a-re-born-fragile-five\/","title":{"rendered":"Another PR stunt from a ratings agency: Egypt is now a member of a re-born \u201cFragile Five.\u201d"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Another PR stunt from a ratings agency: Egypt is now a member of a re-born <\/strong><strong>\u201cFragile Five.\u201d <\/strong>Egypt, Argentina, Pakistan and Qatar have moved onto the list to replace Brazil, Indonesia, and South Africa, leaving only \u201cpoor Turkey, which has failed to graduate\u201d on from the previous incarnation, <a href=\"https:\/\/blogs.wsj.com\/moneybeat\/2017\/11\/06\/the-list-no-country-wants-to-be-on\/\">the WSJ says (paywall)<\/a>. The new list is based on Standard & Poor\u2019s \u201cnew take,\u201d which considers \u201cseven variables that look at a sovereign\u2019s external financial risk, including current-account, reserves and debt metrics.\u201d<\/p>\n<p><strong>The original Fragile Five<\/strong> was a term coined in the summer of 2013 by Morgan Stanley and included Turkey, Brazil, India, South Africa and Indonesia. The term referred to emerging markets that Morgan Stanley saw as having \u201c<a href=\"https:\/\/www.nytimes.com\/2014\/01\/29\/business\/international\/fragile-five-is-the-latest-club-of-emerging-nations-in-turmoil.html\">become too dependent on skittish foreign investment to finance their growth ambitions<\/a>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another PR stunt from a ratings agency: Egypt is now a member of a re-born \u201cFragile Five.\u201d Egypt, Argentina, Pakistan and Qatar have moved onto the list to replace Brazil, Indonesia, and South Africa, leaving only \u201cpoor Turkey, which has failed to graduate\u201d on from the previous incarnation, the WSJ says (paywall). The new list [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637044","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"daa46c9b-9dae-4876-ab4d-a1cbc61f16b2","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[637037],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Another PR stunt from a ratings agency: Egypt is now a member of a re-born \u201cFragile Five.\u201d - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/another-pr-stunt-from-a-ratings-agency-egypt-is-now-a-member-of-a-re-born-fragile-five\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another PR stunt from a ratings agency: Egypt is now a member of a re-born \u201cFragile Five.\u201d\" \/>\n<meta property=\"og:description\" content=\"Another PR stunt from a ratings agency: Egypt is now a member of a re-born \u201cFragile Five.\u201d Egypt, Argentina, Pakistan and Qatar have moved onto the list to replace Brazil, Indonesia, and South Africa, leaving only \u201cpoor Turkey, which has failed to graduate\u201d on from the previous incarnation, the WSJ says (paywall). 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Other unnamed sources told Reuters that only JPMorgan and Morgan Stanley were tapped to assist with the IPO, but that Aramco \u201ccould call on\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562238,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/egypt-a-member-of-the-fragile-four-club\/","url_meta":{"origin":637044,"position":1},"title":"Egypt a member of the \u201cfragile four\u201d club","author":"enterpriseam admin","date":"17 May 2021","format":false,"excerpt":"Egypt is one of the countries most vulnerable to a tourism slowdown: Egypt is among four \u201cfragile\u201d emerging economies that are particularly vulnerable to the latest outbreaks of covid-19, analysts tell Reuters. Along with Turkey, Tunisia, and Sri Lanka, Egypt is heavily dependent on tourism for hard currency. With a\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637724,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/23\/money-managers-think-that-standard-poors-new-fragile-five-list-is-off\/","url_meta":{"origin":637044,"position":2},"title":"Money managers think that Standard &#038; Poor\u2019s new \u201cFragile Five\u201d list is off","author":"enterpriseam admin","date":"23 November 2017","format":false,"excerpt":"Didn\u2019t we tell you S&P\u2019s updated \u2018Fragile Five\u201d list is nonsense? Money managers including Goldman, BlackRock think that Standard & Poor\u2019s new \u201cFragile Five\u201d list is off. Wall Street has been wrong in the past about the BRICS and the PIGS, and data suggests it\u2019s also off about the fragility\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/11\/276.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639488,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/30\/allocation-to-em-debt-rises-above-long-term-average-for-first-time-in-three-years\/","url_meta":{"origin":637044,"position":3},"title":"Allocation to EM debt rises above long-term average for first time in three years","author":"enterpriseam admin","date":"30 October 2017","format":false,"excerpt":"Allocation to EM debt rises above long-term average for first time in three years: In another new milestone for emerging markets, the proportion of EM bonds in global fixed income portfolios has risen above the long-term average for the first time since 2014, writes Steve Johnson for the Financial Times.\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/10\/752.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595918,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/egypt-on-track-to-become-breakout-nation-says-morgan-stanley\/","url_meta":{"origin":637044,"position":4},"title":"Egypt on track to become \u201cbreakout nation,\u201d says Morgan Stanley","author":"enterpriseam admin","date":"14 August 2019","format":false,"excerpt":"Egypt on track to become \u201cbreakout nation,\u201d says Morgan Stanley: Egypt\u2019s reform program, including the currency float and successive rounds of subsidy cuts, coupled with government investment in infrastructure and energy projects, have put Egypt \u201con track to become a breakout nation,\u201d Morgan Stanley\u2019s head of EMs and Chief Global\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/498.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559760,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/we-have-a-lot-of-debt-but-low-risk-levels-morgan-stanley\/","url_meta":{"origin":637044,"position":5},"title":"We have a lot of debt, but low risk levels -Morgan Stanley","author":"enterpriseam admin","date":"3 February 2021","format":false,"excerpt":"When it comes to the world\u2019s most indebted countries, Egypt is best in class in terms of debt manageability, according to Morgan Stanley, which has lumped the nations with the weakest credit ratings into three categories depending on the level of risk, Reuters reports. 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