Egypt under review for downgrade by Moody’s for 3 months ...Egypt

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Egypt under review for downgrade by Moody’s for 3 months
The Egyptian Ministry of Finance issued an urgent statement on Friday commenting on Moody’s, the global credit rating agency’s decision to place Egypt under negative review for three months. Placing the status of Egypt’s sovereign credit rating in both local and foreign currencies and the future outlook under negative review for an additional three months reflects a balanced view of the recent reform steps and measures taken during the past months, the statement read. The statement added that the agency based its recent decision on the structural reforms taken recently by the Egyptian government to stimulate investment and and empower the private sector. The government concluded exit deals w

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