26 Days
Source:
الاقتصادية
Egyptian stock exchange acts to avoid S&P downgrade
The Egyptian stock exchange is engaged in direct discussions with S&P Dow Jones Indices to understand and assess the possibility of downgrading its classification from emerging markets to frontier markets. This comes amid efforts to maintain its current rating and showcase the improvements in the Egyptian economy over the past two years. Officials confirmed that the current investment environment remains stable and resilient, with reduced sovereign debt insurance costs and an improved foreign exchange market, reflecting a positive outlook from the markets towards Egypt. Although the agency’s reports indicate structural challenges and volatility, the Egyptian market has not been significantly affected, with the EGX 30 index rising and demonstrating continued strong performance despite regional challenges.
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