CBE, government policies shield Egypt from crises, preserve economic stability: Moeit – ZAWYA

CBE, government policies shield Egypt from crises, preserve economic stability: Moeit – ZAWYA

S&P maintain Egypt's outlook at stable and the 'B-B' long- and short-term local and foreign currency sovereign credit ratings. Minister of Finance Mohamed Moeit has confirmed that Standard & Poor's (S&P) decision to maintain Egypt's outlook at stable and the 'B-B' long- and short-term local and foreign currency sovereign credit ratings, reflects international confidence in the local economy.. It also highlighted the confidence of international institutions in Egypt's ability to deal with the ongoing coronavirus crisis, he added.. Since 1 March, the top three international credit rating agencies, S&P, Moody's, and Fitch Group, have all made adjustments to their credit ratings of 47 countries.. Of the countries, 11% were in the Middle East and North Africa region, while the credit rating of only 12 countries, including Egypt, was maintained..