🚨 Egypt downgraded again! S&P Global Ratings cuts Egypt's debt to B- from B, now on par with Bolivia, Angola & Iraq. 😬

🔹 Delays in monetary & structural reforms cited as reasons for downgrade.

🔹 Egypt's currency market imbalances worsen, net foreign asset position deteriorates.

🔹 IMF disbursements & financing delayed.

🇪🇬 Egypt's struggling economy faces challenges:

🔸 Rapid outflow of foreign funds after Russia-Ukraine fallout.

🔸 Inflation soars, policy options constrained.

🔸 Passing IMF's delayed reviews of $3bn rescue program.

🔸 Devalued pound, IMF urges another devaluation.

🗣️ What's next for Egypt's economy? Share your thoughts below! 👇