#S&P
Standard and Poor’s (S&P) Global Ratings raised Egypt's credit outlook from stable to positive on 18 March, weeks after the government decided to enforce a long-awaited free-floating currency exchange regime. “ reflects our view that the determination of the exchange rate via market forces will help drive GDP growth and over time support the government’s fiscal consolidation plan,” S&P explained. Despite the lift, the credit rating agency affirmed its current rating of Egypt at B-, placing it six notches into…
