NEW YORK: Pakistan has emerged as a leading economy among the emerging markets globally, according to a report by Bloomberg.
The Bloomberg termed Pakistan as the most improved economy in terms of default risk reduction.
According to a report by research division of Bloomberg, this improvement is due to renewed confidence of investors, macroeconomic stabilization, structural reforms, successful IMF engagement, timely debt repayments and improved credit outlooks by Fitch and other global rating agencies.
The report said that Pakistan is leading the global emerging markets rankings in default risk reduction, as it has recorded the largest drop in default risk globally over the last 12 months from 59 to 47 percent.
The report added that improvements in credit outlooks by international organizations have contributed to the decreased default risk.
This is a resounding signal to global investors that Pakistan is not only back on the map but is moving forward with stability, credibility, and reform at its core.
Speaking on the report, Advisor to the Finance Minister remarked that Pakistan has seen the most significant reduction in bankruptcy risks globally.
