Experts warn of negative credit ratings affecting foreign investment

Economists have warned that negative credit ratings for the Egyptian economy would adversely affect foreign investment.

The international rating agency Fitch, in a report issued on Tuesday, said the political instability in Egypt may give the country another negative rating next year.

The report also noted a considerable reduction in Egyptian reserves.

Economist Fakhry al-Fiqy expected additional negative ratings, especially since the government declined loans from the World Bank and the International Monetary Fund.

“Investors rely on those two institutions in making their decisions,” he said.

Translated from the Arabic Edition

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