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Moody’s urged to improve Pakistan’s credit rating
• Finance minister claims significant strides in stabilising economy
• Says measures implemented to expand tax base, plug leakages
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Tuesday urged the leading US rating agency — Moody’s — to improve Pakistan’s credit rating and help its return to international capital markets at favourable conditions. Pakistan has been postponing the launch of international bonds since July 2021 due to challenging macroeconomic conditions and resultant poor credit rating and relying mostly on time deposits from friendly nations to meet external liabilities and stay afloat.
Moody’s had upgraded Pakistan’s credit rating by one notch to Caa2 from Caa3 (downgraded in February 2023 due to suspension of the IMF programme) and changed its outlook to positive from stable for improving macroeconomic conditions, including liquidity and external position from very weak levels.
On Tuesday, Mr Aurangzeb led Pakistan’s economic team,........
© Dawn Business
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