Page 50 - Issue 72

V O L .1 E L I T E ISSUE 72

The neutrality of these agencies is Finally, these companies should be
questionable, as these agencies may provide funded by an independent fund or

some economic consultations and advice to by multiple entities, such as the

countries to improve their economies before United Nations. Furthermore, these
evaluating them. For example, if Egypt is a agencies should increase their

profitable country for these companies and transparency by publishing detailed

they do not want to lose it by evaluating it, country assessments, not just a final

then these companies will provide economic number. In short, these agencies
consultations to Egypt to improve its should be committed to impartiality

economy and to make the country an in their assessments, and the

attractive environment for investors, and countries they assess should not be

then evaluate it. They will certainly give it a their sole source of revenue.
higher evaluation compared to their

evaluation of it before providing this

consultation.
On the other hand, if these agencies change

their ratings of a company or country, it has

a significant impact on citizens and the
country's economy. If the cost of debt

increases, the country's domestic spending

on education and health will be reduced,

affecting citizens' quality of life.
Furthermore, these ratings can act as a

political pressure tool on some countries,

especially developing countries, if decisions

are made against the interests of major
powers.

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