Middle East Economic Survey

VOL. LIV

No 43

24-Oct-2011

EGYPT

Moodys Says Egypt Governments Resignation Offer Is Credit Negative

Political instability in Egypt (Ba3 negative), epitomized in the recent tendered resignation of its interim government on 11 October, is credit negative according to Moodys Investors Service. The resignation comes amid the countrys deteriorating economic conditions, rising pressure on government finances and an increasingly urgent need for the government to shore up...