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Moody’s forecasts GDP growth in 2019, 6% by 2021
Likelihood of renewed social instability, reform reversal is low given improved economic prospects
Moody’s upgrades five Egyptian banks, outlook changed to stable
Moody’s Investors Service (Moody’s) upgraded on Tuesday, the long-term local-currency deposit ratings of the National Bank of Egypt SAE (NBE), Banque Misr SAE (BM), and Banque Du Caire SAE (BdC) and the Commercial International Bank (Egypt) SAE (CIB) to B2 from B3, and their long-term foreign currency deposit ratings to B3 from Caa1. Furthermore, the …
Moody’s upgrades Egypt’s ratings to B2
Moody’s, credit rating agency, upgraded Egypt’s rating to B2 from B3 and changed the country’s outlook to stable from positive. Finance Minister Mohamed Moeit said that Moody’s decision to raise the credit rating of Egypt to B2 while maintaining a “stable outlook” is a new certificate from the world’s leading rating agency for the success of …
Moody’s views Egypt’s FY 2019/20 draft budget as credit positive, forecasts 7.5% deficit
Minimum wage adjustments in private sector to follow, increase likely to support private consumption, erode competitiveness
Video: CBE interest rate cuts in the eyes of Moody’s
Interest rate cut to reduce borrowing costs: Moody’s
Egypt’s key credit challenges, including weak finances, large financing need, and high borrowing cost, drive exposure to interest rate shocks as well as large domestic funding cost to remain high, Elisa Parisi-Capone, vice president and senior analyst at Moody’s Investors Service, told Daily News Egypt. Moody’s believes that interest rate cut will be a step …
Moody’s maintains positive outlook for Egyptian banking, on back of buoyant economy
GDP growth to reach 5.5% in 2019, 5.8% in 2020, while high interest rates, inflation could hinder growth
Stable outlook for Levant, North Africa in 2019, although slowing reforms point to downside risks: Moody’s
The 2019 stable outlook for sovereign creditworthiness in the Levant and North Africa region reflects support from modest domestic growth and some expected further progress on fiscal consolidation, set against the slowing pace of structural and fiscal reforms in most countries, Moody’s Investors Service said in a report on Tuesday. The report titled, “Sovereigns – …
Moody’s upgrades Egyptian banking system outlook to positive, as economic growth improves
Increased domestic private sector investment, large infrastructure projects, higher exports will drive economic growth, credit demand, says Skouridou
Moody’s changes outlook on Egypt’s rating to positive, affirms B3 rating
Improving Moody’s outlook for Egypt contributes to attracting investments, says finance minister
Fuel price hikes are credit positive: Moody’s
Egypt’s credit rating to return back to BB+ by end of economic reform programme, says banking expert
Beltone downplays Moody’s short-term debt concerns
Beltone, expects that Egypt to continue the current trend depending on the external debt market to benefit from restoring investor’s confidence, according to a research note released by the firm. The note indicates that despite the current improvement in economic indicators, local currency deposits for new T-bills only cover 35% of the budget deficit in …
Egypt among countries exposed to debt risk: Moody’s
EFG Hermes expects Egypt’s public debt to fall to 80% of GDP by end-2020, says Abu Basha
Moody’s ranks Egypt’s 1st movable collateral registry as credit positive for banks
Moody’s Investors Service announced on Sunday that Egypt’s first movable collateral registry, which was launched by the Financial Regulatory Authority last Sunday, is credit positive for Egyptian banks. The newly launched collateral registry will inform banks’ credit decisions and improve their ability to secure movable collateral, such as a borrowers’ machinery, inventory, patents, and crops, …
Egypt’s Capital Market Law amendments are credit positive: Moody’s
The latest amendments to Egypt’s Capital Market Law, recently approved by parliament, are credit positive for the country’s banks, according to a statement issued by the credit rating agency Moody’s on Monday. According to the statement, the amendments will improve and deepen Egypt’s financial markets and investors’ ability to hedge, making the country a more …
Egypt to record region’s strongest growth of 5% by 2019: Moody’s
Debt to GDP ratio peaked at 100% in 2017, forecast to decline to 83% by 2021
Egypt’s B3 rating maintained, outlook remains stable: Moody’s
Any increase in fuel or food prices would reverse the subsidy reforms
Moody’s China downgrade rattles Asian markets
El-Garhy to consult with Standard & Poor’s, Moody’s in Washington next week
Minister participates in IMF and World Bank meetings, meets major investment banks to review Egypt’s economic reforms
Egypt’s IMF programme to support fiscal, external positions: Moody’s
While Egypt’s IMF programme will support gradual improvements to the country’s fiscal and external position, its social and economic costs risk slowing the pace of fiscal reform, Moody’s Investors Service said in a report on Wednesday. “The implementation of the targets of the IMF programme—including reductions in fiscal deficits and government debt levels, as well …
Egypt retains the region’s highest economic strength assessment: Moody’s
The Egyptian economy will grow by 4.0% and 4.5% in 2017/2018, and the debt ratio will peak at 105.9% of GDP in 2017 before declining to 105.5% in 2018.
Pound liberalisation, high interest rate credit positive for banks: Moody’s
The increase in benchmark rates will support banks’ profitability, says the credit rating agency
Increase of oil prices, costs reduction will stabilise global integrated oil and gas business: Moody’s
In terms of debt and its impact on companies’ credit profiles, the report said there would be a gradual recovery until the industry’s net debts have stabilised
Despite challenges, insurance companies thrive in stability: Moody’s
Moody’s forecasts insurance expansion as economy stabilises and recovers, despite glaring structure concerns
IMF deal will be credit-supportive, real GDP growth to average 3.4% from 2011 to 2020: Moody’s vice president
The devaluation of the Egyptian pound in March put upwards pressure on the already high inflation rate
A survey of western opinion on Egypt’s plans for reform
Egypt’s current economic troubles and reform efforts have been the main topic of discussion in a slew of articles recently, many of which pin the blame on the country’s ruling regime, such as Bloomberg’s “Egypt’s Failing Economy is Sisi’s Fault”. The government, however, is not only battling against the challenges of the present, but also …
Application of VAT will be both positive and negative: Moody’s
Moody’s most recent report on Egypt says that the government will most likely fall short of its targeted budget deficit due to “slippages in revenue targets”
Fitch Ratings upgrades DP World during ongoing expansion of operations
The credit rating agency affirmed DP World Sokhna’s credit rating and fiscal security as the multi-national commerce company plans massive expansion
Oil prices expected to maintain $40-$60 per barrel range, medium term: Moody’s
GCC countries will continue to struggle with economic, financial, and foreign challenges, Dyck says
International creditors celebrate Egypt’s IMF loan: Moody’s
Egypt’s economic and financial strength, debt, and risk levels remain unchanged despite notable government improvements, says investor service