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Egypt’s outlook revised up as external financial risks ease
Fitch Ratings has upgraded Egypt’s outlook to “positive” from “stable” citing lower external financing risks and increased foreign capital inflow. The $35 billion Ras El-Hekma deal with the UAE, a flexible exchange rate, and tightening of monetary policy have reduced near-term external financing risks, the global rating agency said in a report. “The Ras El-Hekma investment underscores the […]