The credit rating agency says that the decision was made after improvement kin Paksitan balance of payments.
KARACHI: (Urdu Point/Pakistan Point News-Dec-02, 2019) Moody’s Investors Services—a credit rating agency, declared Pakistan’s outlook as “stable” here on Monday.
Through its report, Moody made announcement about Pakistan’s outlook by confirming that future of Pakistan’s economy was stable as compared to the negative outlook in the past. Moody also revised Pakistan’s outlook after improvement in Pakistan’s balance of payments. On other hand foreign exchange reserves were still low and that it would take time to go up but Moody made it clear that free floating and policy adjustment—exchange rate would help enhance the balance of payments.
In quick response to Moody’s decision, Advisor to PM on Finance Dr Abdul Hafeez Sheikh said that the current outlook and confirmation by Moody is the evidence of incumbent government’s success in stabilizing the economy. Pakistan had achieved strong foundation for long term growth and Moody’s confirmation was the first the step in this regard, he added.
