World rating agency Standard & Poors has downgraded its long-term foreign- and local-currency sovereign credit ratings of Egypt to ‘B-‘ from ‘B’. It has also switched its outlook is negative, citing recent political developments that weakened Egypt’s institutions and the increasingly polarized political discourse that could undermine the effectiveness of policy-making. According to S&P, a […]
French Prime Minister Bernard Cazeneuve Friday in Tunis underlined France’s stance on the control of the Libyan oil saying that the National Oil Corporation (NOC) must align with UN-backed Presidency Council (PC). The French leader met with PC head Faiez Serraj in the Tunisian capital as a gesture of support for the weak UN-sponsored Libya […]
The International Monetary Fund (IMF) Executive Board completed its fourth review of Egypt’s economic reform program under the Extended Fund Facility (EFF) arrangement, granting the country immediate access to approximately $1.2 billion. The approval, announced on Tuesday March 11, marks a significant step in Egypt’s ongoing efforts to stabilize and reform its economy with the […]
