Egypt Able to Meet All International Debt Obligations, PM Says
- Madbouly expects $2 billion from state-asset sales by end-June
- Egypt has never missed any of its obligations, premier says
Mostafa Madbouly
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Egypt is fully able to meet its international debt obligations, Prime Minister Mostafa Madbouly said, looking to ease market concerns over the North African nation’s economic situation.
S&P Global Ratings in April lowered its outlook on Egypt to negative and forecast a further currency deprecation, while Moody’s Investors Service warned last week of rising risks for the government’s “debt affordability and debt-sustainability profile.”