US welcomes Moody’s upgrade in Pakistan’s credit outlook

Dawn | Dec 4, 2019 at 11:04 AM
  • Crediting the finance ministry’s reform efforts and the International Monetary Fund (IMF) programme, the in-charge of South Asia affairs at the US State Department, Alice Wells, on Wednesday welcomed Moody’s revision in Pakistan’s credit outlook.
  • Moody’s expected the policy enhancements, including strengthened central bank independence and the commitment to currency flexibility, to support the reduction in external vulnerability risks.
  • Notwithstanding improved balance of payments dynamics, Pakistan’s foreign exchange reserve adequacy remains low.