Moody’s credit ratings

Moody’s changes its outlook of Egypt to negative from stable

Fri, 27 May 2022 - 12:54 GMT

The agency attributed the change in its outlook to the inflation in the food prices, saying that if the government could not mitigate such raises in prices, it would cause “social tensions,” despite the foreign financial support of the Gulf States Council (GCC) and the prospect of a new IMF program.