Pre-Trading Thoughts

Fitch Ratings has cut its outlook on Egyptian debt from “stable” to “negative” due to deterioration in the country’s external liquidity position, keeping Egypt’s B+ rating. Egypt unveiled initiative to help poor countries adapt to climate change, a plan that envisions channeling billions of USD into the world’s poorest countries by 2030. The General Authority for Supply Commodities (GASC) canceled its last tender to import wheat due to the high prices by import companies, exceeding the estima...