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Eurasia
17/03/2024 18:30
Most international investors in recent years have shied away from the government's domestic securities amid fears of currency devaluation and concern about taking back money from a country suffering from a severe dollar shortage.
In just two weeks, a $35 billion investment deal with the UAE, an expanded $8 billion loan from the International Monetary Fund, a 600-basis-point interest rate hike and an exchange rate shift put the domestic fixed income market back into the spotlight.
After the positive developments, Moody's revised Egypt's outlook from negative to positive, attributing this to "significant official and bilateral support" and "policy steps taken" over the past days, but keeping the country's credit rating at Caa1, which still means sovereign debt carries very high risk. Goldman Sachs Farouk Sousse told clients in a note that the latest developments had revived "the near-term investment hypothesis in riskier Egyptian assets."
Sri Lanka is the only country in the Asia region currently engaged in discussions with US officials to renegotiate tariffs imposed under US President Donald Trump’s administration, according to deputy economic minister.
China confirmed on Friday details on the framework of a trade deal with the United States, saying Washington would lift "restrictive measures" while Beijing would review and approve items under export controls.
China is willing to maintain economic and trade exchanges with the United States based on equality, mutual respect and mutual benefit to deliver benefits to both countries and the world, Vice Minister of Finance Liao Min said, according to a statement released by the ministry on Friday.