Egypt makes top 10 list of countries not likely to pay back debt

Egypt was named as the 10th riskiest debtor in the world in a study by CMA Sovereign Global, a research agency for unlisted stocks and capital that is part of the Standard and Poor ratings agency.

The study, based on numbers from the third fiscal quarter, estimated that there was a 27.3 percent likeliness that Egypt could default on its debts in the coming five years.

According to the study, the most dangerous government debt for investors was Greece, which researchers estimated had a 90-99 percent chance of not being made good in the coming five years. Also on the top 10 black list were Cyprus, Argentina, Pakistan and Lebanon.

Egypt was also in the 10th place slot in the agency’s report last quarter.

According to the report, the top 10 most reliable government debt issuers are Norway, Sweden, and the United States, respectively, though the US had dropped one ranking since the previous quarter’s report amid the rising governmental debt crisis there.

https://www.arabfinance.com/News/newsdetails.aspx?Id=239992

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