Fitch downgrades Egypt on growing government debt
- Date: 05-Nov-2023
- Source: AGBI
- Sector:Financial Markets
- Country:Egypt
Fitch downgrades Egypt on growing government debt
Fitch Ratings has lowered Egypt’s long-term foreign-currency issuer default rating (IDR) to B- from B on increased financial risks and rising government debt. “The downgrade reflects increased risks to Egypt’s external financing, macroeconomic stability and the trajectory of already-high government debt,” the rating agency said in a report. The slow progress on reforms, including the […]