Some Egyptian bankers proposed implementing a package of measures to restore Egypt’s strong credit rating which has been downgraded six times since 2011 because of the political turbulences which triggered since the Jan. 25 Revaluation.
Moody’s has recently upgraded the credit rating of five Egyptian banks to ‘Stable’ from ‘Negative’.
The officials indicated that the Egyptian economy deserves higher ratings; a reality showed by the global markets which trade the Egyptian securities.
Mounir El-Zahed, chairman of Banuque du Caire, said the banks’ creditworthiness deserves higher ratings, thus the rating upgrade requires some measures to boost the investment climate.
He added that such measures include completing the review of all investment regulations and laws.
Yasser Hassan, managing director of NBK-Egypt, said Moody’s credit rating upgrade to ‘Stable’ from ‘Negative’ indicates that Egypt is on the right track, which reassures investors.
He added that this will enhance the economic growth rates, expecting this rating upgrade to boost investor appetite.
Moody’s has recently upgraded the credit rating of five Egyptian banks to ‘Stable’ from ‘Negative’.
The officials indicated that the Egyptian economy deserves higher ratings; a reality showed by the global markets which trade the Egyptian securities.
Mounir El-Zahed, chairman of Banuque du Caire, said the banks’ creditworthiness deserves higher ratings, thus the rating upgrade requires some measures to boost the investment climate.
He added that such measures include completing the review of all investment regulations and laws.
Yasser Hassan, managing director of NBK-Egypt, said Moody’s credit rating upgrade to ‘Stable’ from ‘Negative’ indicates that Egypt is on the right track, which reassures investors.
He added that this will enhance the economic growth rates, expecting this rating upgrade to boost investor appetite.
Source:
Mubasher
