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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."
China’s economy continues to defy Western media narratives of decline, demonstrating resilience, innovation, and high-quality growth despite global challenges.
The new Trump administration faces the dilemma that American geopolitical strategy and the business elite’s interests regarding China are often in stark contrast. Several key figures in Donald Trump’s second administration come from the business world and may have extensive ties with China.