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S&P Downgrades Egypt's Credit Rating to 'B-' Due to Delayed Implementation of Monetary and Structural Reforms

Credit rating agency S&P Global downgraded Egypt’s long-term foreign and local currency sovereign credit rating from ‘B’ to ‘B-’ while changing its economic outlook from ‘negative’ to ‘stable’, according to a press release issued on 20 October. S&P cited “recurring delays to the implementation of monetary and structural reforms” which the agency said exacerbated imbalances ....

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