US Deputy Assistant Secretary Alice Wells thanks Pakistan Finance Ministry for making reforms efforts, the IMF program for bringing change in Pakistan’s economy.
LAHORE: (Urdu Point/Pakistan Point News-Dec 4th, 2019) The United States of America (USA) on Wednesday expressed pleasure over improvement in Pakistan’s outlook by Moody—the international credit agency.
Alice Wells, Deputy assistant Secretary to the State, also thanked Pakistan’s Finance Ministry for making reform’ efforts and International Monetary Fund (IMF) program. She expressed these views on her twitter account.
She wrote: “With bold economic reforms, Pakistan can boost growth, attract private capital, and expand exports.”
On Monday, Moody’s Investors Services—a credit rating agency, changed Pakistan’s outlook from negative to “stable”. Moody said 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.
