The center highlighted that the Ras El-Hikma project agreement, coupled with a more flexible pound exchange rate, has notably diminished short-term external financing risks and exposure to geopolitical events.
Egypt's Central Bank is set to maintain its key interest rates following a significant hike earlier this month, according to Fitch Ratings.
From the EBRD’s most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.
Fitch Ratings has lowered credit ratings on four Egyptian banks, citing concerns about external financing, macroeconomic stability, and government debt
The ratings agency wrote that the four banks have “significant exposure” to debt and lending to public-sector companies, with Fitch estimating their debt to reach 75% of their total assets
