PM Shehbaz welcomes Moody’s upgrade of Pakistan’s credit rating

Islamabad (Web Desk): Prime Minister Shehbaz Sharif has expressed his approval of Moody’s recent enhancement of Pakistan’s credit rating, praising the hard work of the country’s economic team.

It is pertinent to mention that Moody’s has elevated Pakistan’s credit rating from Caa2 to Caa1, which signals confidence in the government’s economic policies.

PM Shehbaz assured that the government is committed to further strengthening the economy and improving this rating.

"The credit rating upgrade is a clear indicator of our economic team’s dedication and efforts. We will keep pushing forward with initiatives aimed at economic stability and providing support to the people."

According to international media reports, Moody’s upgrade is mainly attributed to Pakistan’s improved external financial standing.

 The agency has also kept the country’s rating outlook as stable, suggesting fewer risks of a downgrade in the foreseeable future.

Earlier in February 2024, following general elections and the resulting political uncertainties, Moody’s had maintained Pakistan’s credit rating at Caa3.

The rating was then raised to Caa2 in August 2024, and the latest improvement has now taken it to Caa1.