Egypt\u2019s economic strength has supported\u00a0its B2 issuer credit rating\u00a0by Moody\u2019s Investors Service.<\/p>\n
The most populous country’s large and diversified economy is reflected in its \u201ca3″ economic strength, the international credit rating agency said in a statement on Monday.<\/p>\n
\u201cRelatively weak but improving\u201d governance indicators are balanced out by institutional and governance strength, along with Egypt\u2019s \u201csolid track record\u201d of commitment to implementing reforms, Moody\u2019s said.<\/p>\n
On the flipside, Egypt\u2019s public finances remain a weak spot<\/strong>, with a high government debt burden that is now in decline after rising temporarily due to the pandemic, the review says. While the likelihood of social upheaval is low, the review found that Egypt is still exposed to banking sector risks because of its large banking system and population. These risks, however, remain well mitigated by the sector’s stable funding structure, large liquidity buffers and resilient loan performance.<\/p>\n In September, a Moody\u2019s report showed that Egypt\u2019s credit profile is resilient to shocks.<\/p>\n","protected":false},"excerpt":{"rendered":" Egypt\u2019s economic strength has supported\u00a0its B2 issuer credit rating\u00a0by Moody\u2019s Investors Service.<\/p>\n","protected":false},"author":4,"featured_media":319962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24,33],"tags":[95],"class_list":["post-319961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-partners","category-main","tag-moodys"],"yoast_head":"\n