U.S. appreciates Pakistan credit outlook's revision by Moody's Investor Service

’s reform efforts and IMF program. With bold economic reforms, Pakistan can boost growth, attract private capital, and expand exports. AGWNew York-based credit rating agency Moody’s on Monday raised Pakistan’s economic outlook from negative to stable on the back of the country’s reforms supported by an IMF programme, but kept its credit rating unchanged at B3.

Moody’s Investors Service on Monday affirmed Pakistan’s local and foreign currency long-term issuer and senior unsecured debt ratings at B3 and changed the outlook to stable from negative. It further stated, “Such developments reduce external vulnerability risks, although foreign exchange reserve buffers remain low and will take time to rebuild. Moreover, while fiscal strength has weakened with higher debt levels largely as a result of currency depreciation, ongoing fiscal reforms, including through the country’s International Monetary Fund programme, will mitigate risks related to debt sustainability and government liquidity.

Yesterday, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh said that financial and trade deficit of the country was decreasing, and global organisations were acknowledging Pakistan’s economic growth.

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