Egypts Rating
This marks a revision from the bank's previous forecast of 4 percent for the same period.
The downgrade “reflects the increase in Egypt’s external financing risks due to the country’s high external financing needs and risks to the sufficiency and timeliness of financing inflows.
The ministry’s official statement added that Moody’s based its recent decision on the structural reforms taken recently by the Egyptian government to stimulate investment and empower the private sector
Moody's Investors Service (Moody's) has placed the B3 long-term local and foreign currency deposit ratings for review on all Moody's rated banks in Egypt.
Since March 2022, the three banks released multiple types of high-yield CDs, ranging from annual yields of 18 percent to 25 percent
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