WASHINGTON DC: Pakistan’s Finance Minister, Muhammad Aurangzeb, is confident that Moody’s Investor Service would upgrade credit rating of the country soon.
According to a press release issued by the ministry of finance, he made the views during a meeting with the senior officials of the rating agency on the sidelines of IMF/ World Bank Spring meetings in Washington DC.
The minister briefed the officials about key economic indicators and how macro-economic stabilization has been achieved after entering into Stand-by Arrangement (SBA) with IMF.
During the meeting he highlighted top priorities of the government around tax reforms, energy sector reforms and privatization agenda.
Pakistan wants to tap international capital markets
He said the government wants to tap international capital markets with a focus on Middle East and China.
He also addressed key questions related to inflation, level of foreign exchange reserves, debt repayments, external account vulnerability and domestic liquidity.
He was confident that rating agency would upgrade credit rating of the country soon.
Meanwhile the Finance Minister also attended the Roundtable with Investors in Washington DC.
Muhammad Aurangzeb highlighted Pakistan’s stable macroeconomic indicators including declining inflation, strong growth of agriculture sector, strong remittances, stable currency, rising forex reserves and buoyant stock market.
He said that Pakistan wants to enter into a larger and extended program with the IMF. He also discussed top priorities of the government around energy, taxation, sector reforms and privatization program.
The minister noted that World Bank’s focus on digitalization, climate change and human capital aligned with policies of the Pakistani government.
