Euro-Med Monitor

Fitch downgrades four Egyptian banks’ Issuer Default Ratings to “B”

Earlier this May, Fitch downgraded Egypt’s sovereign rating to “B” with a negative outlook. Three of the four banks, whose ratings it downgraded, are public banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]

Uncertainty over AGOA casts shadow on African trade as U.S. tariffs weigh on markets

Talks over the future of the African Growth and Opportunity Act (AGOA) are set to begin by July, but African nations face growing uncertainty as U.S. tariffs threaten to undermine the landmark trade pact. AGOA, which since 2000 has granted duty-free access to the United States for eligible sub-Saharan African exports, is scheduled to expire […]

Gen. Haftar Takes Strategic Jurfa Oasis in March Towards Tripoli

The Libyan National Army (LNA) Loyal to General Haftar have taken control of a strategic military base in Jufra after a battle with militias supporting the UN-backed government in Tripoli, media reports said. The takeover of Jufra oasis, 400 km south of Sirte, gives Haftar’s forces a boost in their advance towards Tripoli. The attack […]