Egypt : S&P affirms Egypt's credit rating at B/B with stable outlook
- 26 April 2022 / News / 424 / Fares RAHAHLIA
CAIRO – 25 April 2022: Standard & Poor's (S&P) kept Saturday Egypt's long and short-term foreign and local currency sovereign credit ratings at B/B with a stable outlook, following a similar move by Fitch, which kept the rating at B+, also with a stable outlook.
Fitch's rating applies to long term rating, and local currency long term default rate. However, both the short term rating and the local currency short term default rate stand at B, while the country ceiling is B+.
Fitch has maintained that rating for six times in a row since March 2019, when the outlook went up from B with a positive outlook to B+ with a stable outlook. The credit rating of Egypt by Fitch has been improving since January 2014, when it became B- with a stable outlook compared to B- with a negative outlook in July 2013. Then, in December 2014, it became B with a stable outlook and remained as is until January 2018, when it first hit B with a positive outlook.
Morocco.. The Executive Board of the International Monetary Fund approves a loan worth $1.3 billion from the Resilience and Sustainability Fund
- 29 September 2023
Yesterday, Thursday, the Executive Board of the International Monetary Fund approved a loan worth $1.3 billion to Morocco from the Resilience and Sustainability Fund.The International Financial Corpor...
Morocco : OCP achieves a net profit of MAD 3.4 billion at the end of June
- 28 September 2023
The OCP group achieved a net profit of 3.4 billion dirhams (billion dirhams) in the first half of 2023 (H1-2023), according to a press release from the group on its financial results at the end of Jun...
Algeria, Amended finance law of 2023: Measures to combat tax evasion by multinational companies
- 27 September 2023
In order to fight more effectively against tax evasion in Algeria, on the part of large foreign companies, the 2023 amended finance bill makes significant changes to the provisions of the tax procedur...