Islamabad: Global rating agency Moody's has upgraded Pakistan's sovereign credit rating from Caa1 to B3. This development is expected to have a profound impact on the country's economic landscape.
According to Radio Pakistan, Advisor to the Finance Minister Khurram Schehzad announced in a post on X that Moody's has also maintained the outlook of Pakistan's rating as stable. He highlighted that the upgrade is a testament to the growing confidence in Pakistan's economy and its debt repayment capacity.
Schehzad emphasized that the B3 rating marks a significant advancement towards Pakistan's economic recovery and financial stability. He noted that the up-gradation by the global rating agency acknowledges Pakistan's improving economic and financial position.
Furthermore, Schehzad stated that an upgraded credit rating could enhance global investor confidence and improve Pakistan's access to international financial markets. He underscored that Moody's latest decision is a crucial positive step in Pakistan's journey towards economic stability.