CBE Governor: S&P Upgrade Signals Global Confidence in Egypt’s Economy and Reform Agenda

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years.The Governor of the Central Bank of Egypt, Hassan Abdalla, welcomed S&P Global Ratings’ decision to upgrade Egypt’s long-term sovereign credit rating from “B-” to “B,” maintaining a stable outlook. This marks the first upgrade in seven years

Mr. Abdalla stated that the decision underscores the growing confidence in Egypt’s national economy, driven by the success of recent monetary and structural reforms. He highlighted the unification of the exchange rate regime as a major step toward enhancing market stability and restoring investor trust

The Governor noted that the improvement in external sector indicators, including rising foreign exchange reserves and stronger net financial inflows, reflects the effectiveness of the Central Bank’s policies. He reaffirmed the CBE’s commitment to implementing prudent monetary measures to curb inflation, maintain financial stability, and foster sustainable economic growth

According to S&P, the upgrade reflects the economic reforms implemented over the past 18 months, including the liberalization of the foreign exchange regime, which helped Egypt’s GDP rebound sharply in FY2025. The agency also pointed to the positive impact of tourism recovery, increased remittances, and a surge in foreign investments

Meanwhile, Fitch Ratings affirmed Egypt’s long-term foreign-currency rating at “B” with a stable outlook, citing the country’s resilient economic performance, stronger external position, and ongoing fiscal reforms despite regional challenges

This latest upgrade marks a significant milestone for Egypt, reinforcing the nation’s credibility among international investors and financial institutions, and highlighting the tangible results of its ongoing reform agenda