No further details were disclosed but the spokesperson announced that the updates and outcomes will be shared by the end of Hollar’s visit
The finance minister, Mohamed Maait, added that the government’s Initial Public Offering (IPO) program strengthens Egypt's ability to meet its financing needs over the next two years and attract more investment inflows, reducing the need for external financing
The agency specifically pointed to two significant factors contributing to the revision of Egypt's credit profile: the challenging macroeconomic environment and the ongoing process of exchange rate rebalancing
Egypt is required to pay $29.23 billion in external debt service in 2024
Egypt’s PMI increased slightly from 47.9 in October to record 48.4 in November showing a mild decline in the health of the Egyptian non-oil private sector
