In a significant move that underscores Banque Misr's leadership and strong standing in the Egyptian banking sector, the bank has entered into a strategic cooperation agreement with Moody’s
The positive outlook, which has been in place since March 2024, highlights “the prospects for an improvement in Egypt's debt service burden and external profile.”
Business Today Egypt looks back at 2024 to highlight the year’s top stories and most impactful events that have left a mark on Egypt’s economy.
The credit rating agency also anticipates a significant decline in inflation, from approximately 27.5% in the current year to around 16% in the next.
“The large devaluation of the currency and increase in interest rates will likely help Egypt maintain an upsized IMF program, reduce the risk of a renewed build-up of external imbalances, and strengthen the economy's shock resilience"
