VOL. XL

No. 42

20-October-1997

EGYPT

S&P Releases Statement On Egyptian Banks

The US ratings agency Standard and Poor's (S&P), which did so much to spur interestin Egypt by giving the country an investment grade rating earlier this year (MEES,20 January), said in a report published on 16 October that the health of the Egyptianbanking system is heavily dependent on the success of the ongoing restructuring andprivatization program. "The entire banking system remains vulnerable to the...