ISLAMABAD: Advisor to the Finance Minister Khurram Schehzad here on Wednesday congratulated the nation on the upgrade of the country’s sovereign credit rating by Moody’s, describing it as a significant milestone that reflects growing international confidence in the government’s economic reform agenda.
Moody’s upgraded Pakistan’s rating to Caa1 with a stable outlook, a move supported by stronger foreign exchange reserves, fiscal consolidation, and a broadened revenue base. This positive development is attributed to the sustained progress achieved through the home-grown reforms agenda under the IMF Extended Fund Facility.
“While challenges remain, this recognition reaffirms that Pakistan is on a clear path toward greater macroeconomic stability and resilience,” Shehzad noted while writing on X.
With Moody’s upgrade, all three leading global rating agencies have now improved Pakistan’s sovereign credit ratings with stable outlooks including S&P: B- with Stable Outlook; Fitch: B- with Stable Outlook; Moody’s: Caa1 with Stable Outlook.
These upgrades have occurred within the shortest possible timeframe, with some ratings reaching levels not seen in around three years.
Khurram Shehzad extended his heartfelt wishes to the entire nation, stating, “On this moment of positive progress, I extend my heartfelt wishes to the entire nation for a very Happy Independence Day!”
This development marks a promising step forward for Pakistan’s economy, signaling renewed confidence from the global financial community.
