Credit rating agency Moody’s downgraded Tunisia’s credit rating to B2 against the backdrop of deteriorating fiscal situation, complicating the government’s plans to borrow from international lenders. Moody’s cut Tunisia’s rating by one notch to B2– five levels below investment grade and on a par with Argentina, Nigeria, Cameroon and Kenya. Moody’s rating downgrade will complicate […]
Kenyan and Nigerian currencies have both hit all-time lows in the past few days, worsening the economic situation in the two heavily indebted African countries plagued by high inflation and ongoing dollar shortages. Kenyan currency hit all-time low of 150 shillings to the US dollar on Monday (23 October), while the Nigerian naira has faced […]
US Republicans Sunday stunned the world as they threw support behind Egyptian strongman al-Sisi calling him “the right man at the right time” to lead Egypt even as the latter is lambasted by right groups and the Obama Administration for the gloomy human rights situation in Egypt. A group of US Republicans led by war-thirsty […]
