VOL. XLI

No. 36

7-September-1998

EGYPT

Thomson Bankwatch Changes Outlook For Egypt

Thomson Bankwatch (TBW) on 1 September also affirmed its BB+ sovereign risk rating forEgypt and changed its outlook to positive. TBW said that "Egypt seems to haveembarked on a virtuous cycle of higher growth, rising investments, and risingsavings Egypt was able to restore the health of its public finances, reduceinflation, maintain the stability of its exchange rate, build up its foreign exchangereserves, reduce...