Comment & Analysis
Moody’s upgrades Egypt by a notch as structural reforms bolster economic resilience
Moody’s upgraded Egypt’s long-term sovereign credit rating by one notch to “B3” from “Caa1” on Friday, citing strong fiscal consolidation and structural reforms. “The shift to a flexible exchange rate and tighter monetary policy has strengthened external buffers and the economy’s capacity to absorb shocks,” the global credit ratings agency…
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