Image Credit: Exclusivo Egipto Credit rating agency Fitch announced its decision to downgrade Egypt’s long-term foreign-currency issuer default rating (IDR) from ‘B’ to ‘B-‘, citing a growing concern over heightened financial risks and an increase in government debt, in a report on 3 November. An IDR is akin to a report card for a country’s ability to pay back money borrowed from other countries or organizations. It indicates how capable or incapable the country is at managing finances and repaying debts. “The downgrade reflects increased risks to Egypt’s external financing, macroeconomic stability and the trajectory of already-high government debt,” the report read. Fitch also cited increas
Hence then, the article about fitch downgrades egypt s credit rating to b citing growing debt and delayed reforms was published today ( ) and is available onEgyptian Streets ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Fitch Downgrades Egypt’s Credit Rating to ‘B-’, Citing Growing Debt and Delayed Reforms )