Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Moody's downgrades Egypt's outlook to 'Negative' on weak debt affordability
Posted on January 22, 2024 |
Moody's, a global rating agency, has changed its view on Egypt's financial future from "stable" to "negative" due to increased risks that could make Egypt's credit situation worse.
Even though Egypt was expected to get more financial help from the International Monetary Fund (IMF). They think that if the government doesn't take strong actions and get enough external support, Egypt might need to reorganize its debts.
There's a worry that Egypt will have to pay more interest on debts and face external pressures, which could make it harder to manage its overall economic situation.
Moody's states that while the support from the IMF could help Egypt with some money issues, the overall outlook is uncertain.