The Central Bank of Egypt published remarks by Governor Hassan Abdalla welcoming S&P Global Ratings’ decision to upgrade Egypt’s long-term sovereign credit rating to “B” from “B-” with a stable outlook, describing the move as reflecting rising confidence in the economy following recent monetary and structural reforms. Abdalla highlighted the unification of the exchange rate regime as a key step to enhance market stability, citing improved external sector indicators and higher foreign exchange reserves, and reiterated the central bank’s focus on monetary policies aimed at curbing inflation and safeguarding financial stability. S&P characterised the upgrade as the first in seven years and linked it to reforms over the past 18 months, including liberalisation of the foreign exchange regime, which it said supported a sharp rebound in GDP growth in fiscal year 2025 alongside higher tourism revenues, stronger remittances and improved net financial inflows. Separately, Fitch Ratings affirmed Egypt’s long-term foreign-currency rating at “B” with a stable outlook, citing resilient growth, a strengthening external position and advancing fiscal reforms despite regional challenges.
Central Bank of Egypt 2025-10-13
Central Bank of Egypt welcomes S&P Global Ratings upgrade of Egypt’s sovereign rating to B with stable outlook
The Central Bank of Egypt announced S&P Global Ratings' upgrade of Egypt’s long-term sovereign credit rating to “B” from “B-” with a stable outlook, reflecting confidence in recent monetary and structural reforms. Governor Hassan Abdalla emphasized the unification of the exchange rate regime and improved external indicators as key factors. Fitch Ratings affirmed Egypt’s rating at “B” with a stable outlook, noting resilient growth and fiscal reforms.