Inflation, Rising Debt Risks Change Egypt’s Outlook to Negative: Moody’s ...Egypt

A woman shops at a vegetable market in Cairo, Egypt. Photo Credit | Reuters/Mohamed Abd El Ghany Moody’s Investors Service has changed Egypt’s outlook to ‘negative’ from ‘stable’, in its updated 2022 market outlooks, which means Moody’s is more likely to cut its rating. This change comes as a result of the country’s constraints in receiving money inflows and meeting the external debt service payments in the context of high inflation and tightening financial conditions due to the Ukraine conflict, the agency said in a statement on Thursday. The increase in food price inflation could also raise social tensions and political risk, and rising domestic borrowing costs also increase liquidity risk

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Inflation, Rising Debt Risks Change Egypt’s Outlook to Negative: Moody’s ...Egypt

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