Central Bank: S&P Global Upgrades Egypt’s Credit Rating on FX Reform and Economic Growth
H E Mr Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), welcomed
the recent decision by S&P Global Ratings to upgrade Egypt’s sovereign credit rating
from “B-” to “B” with a stable outlook He affirmed that the upgrade reflects growing
international confidence in the Egyptian economy, driven by a comprehensive agenda
of monetary and structural reforms The Governor highlighted that exchange rate unification
was a pivotal measure in enhancing market stability and restoring investor trust, pointing to
recent improvements in external sector indicators and the increase in foreign exchange reserves
as evidence of the reform program’s effectiveness
CBE Reaffirms Commitment to Price Stability and Sustainable Growth
Mr Abdalla reiterated the Central Bank’s commitment to implementing sound monetary policies
aimed at curbing inflation, maintaining financial system stability, and fostering sustainable economic
growth These policy directions are essential for enhancing Egypt’s economic resilience and reinforcing
international investor confidence
Central Bank : FX Liberalization and Reform Drive Boost Economic Outlook
On Friday, S&P Global Ratings announced its decision to raise Egypt’s long-term credit rating
to “B” marking the country’s first upgrade in seven years The agency cited significant economic
reforms over the past 18 months, most notably the liberalization of Egypt’s foreign exchange regime
as the primary driver behind the rebound in GDP growth during fiscal year 2025
S&P noted that transitioning to a flexible exchange rate has strengthened Egypt’s economic fundamentals
alongside notable increases in tourism revenues, remittance inflows, and net financial inflows, which have
collectively supported the country’s external financial position
Fitch Ratings Affirms Egypt’s ‘B’ Rating with Stable Outlook
In parallel, Fitch Ratings reaffirmed Egypt’s long-term foreign-currency credit rating
at “B” with a stable outlook, acknowledging the country’s resilient economic performance
improved external accounts, and continued progress in fiscal consolidation, despite regional
geopolitical pressures
Egypt Gains Global Recognition for Reform Progress
Central Bank The latest credit rating upgrade by S&P and affirmation by Fitch send a strong signal to global
markets about Egypt’s economic reform credibility, policy discipline, and determination to sustain
macroeconomic stability These developments are expected to enhance Egypt’s attractiveness to
international investors, improve financing terms, and support long-term economic development
