Egypt's government bonds fought back from a heavy tumble after Moody's had downgraded the country.
bonds fought back from an initial heavy tumble after Moody’s had downgraded the country’s credit rating to a new low and the head of the IMF had warned Cairo against delaying another currency devaluation.
The rating firm had cited the country’s worsening debt problems amid a bruising economic crisis that has triggered a string of devaluations, record inflation and more of its citizens to seek risky routes out of the country. Responding to the Moody’s cut, Egyptian Finance Minister Mohamed Maait said in a statement that the government was undertaking structural reforms to address its economic challenges and taking measures to stimulate investment.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SABC, MultiChoice reach an agreement on ICC Cricket World Cup - SABC News - Breaking news, special reports,SABC and MultiChoice reach an agreement on ICC Cricket World Cup.
Read more »
Egypt's bonds spiral lower after Moody's downgrades on economic crisisEgypt's sovereign dollar bonds tumbled on Friday after ratings agency Moody's downgraded its credit rating deeper into junk territory, ramping up the pressure on the cash-strapped nation as it heads into elections in December.'
Read more »
Mozambique drops part of 'tuna bonds' claim against Privinvest - SABC News - Breaking news,Mozambique drops part of its claim against Privinvest over the decade-old 'tuna bond' scandal.
Read more »
Moody's downgrades Egypt deeper into junk territoryMoody's on Thursday downgraded Egypt's credit rating by a notch to 'Caa1' from 'B3', citing the country's worsening debt affordability.
Read more »
KZN ANCYL march against Chris Pappas underway - SABC News - Breaking news, special reports, world, business,KZN ANCYL march against uMngeni Mayor Chris Pappas whom they accuse of nepotism and corruption.
Read more »
A Limpopo convicted rapist gets two years life imprisonment - SABC News - Breaking news, special reports,A 52-year-old rapist sentenced to two years life imprisonment in the Seshego Regional Court.
Read more »