Standard
In April, credit rating firm Moody’s pegged Egypt’s credit rating at B2, despite complex external shocks facing the global economy and emerging markets, which is perceived as a very positive move.
Egyptian Finance Minister Mohamed Maait in 2021 that standard
The score reflects the continued confidence of foreign institutions and credit rating agencies in the resilience of the Egyptian economy, he said, and their ability to definitively cope with the influence of the pandemic compared to countries with similar or higher credit scores. A time when economic situations have deteriorated at the highest level of other emerging markets.
Quoting the Standard report
This is in addition to the government’s continued implementation of financial, economic and structural reforms that would improve the operating environment for businesses and ensure the sustainability of economic indicator conditions.