INTERNATIONAL ratings agency Moody’s decision to keep Pakistan’s long-term credit rating unchanged at Caa3, with stable outlook, is reflective of the poor standing of a cash-strapped nation in global financial markets. The rating indicates a higher probability of default and a greater degree of investment risks amid weak debt affordability. It also takes into account Pakistan’s low growth rate
ISLAMABAD: Moody’s Investors Service on Tuesday kept Pakistan’s ratings unchanged at ‘Caa3’ with a stable outlook but highlighted that significantly high risks of liquidity and external vulnerability challenges following highly controversial elections, severely constrained decision-making capacity of the coalition government-in-waiting. The international rating agency — one of the top three glo
ISLAMABAD: In a letter to the International Monetary Fund (IMF), the PTI has urged the lender to endorse an audit of the 2024 elections for the sake of political stability in the country, before entering into a dialogue with Islamabad for a new bailout package. This was disclosed during a press conference addressed by PTI leaders Barrister Gohar Ali Khan, Omar Ayub, Meher Bano Qureshi, and Muza
KARACHI: The anxiety among businessmen is yet to subside after the elections, as they believe that only a significant drop in power, gas, and interest rates can revive economic activities and attract investors, making the working environment less tense and challenging. CEO of the Pakistan Business Council (PBC), Ehsan Malik, emphasised that a faltering economy demands astute management and cann
KARACHI: The financial market dealing with foreign exchange is tense on reports about the expected higher dollar outflows. Sources in the financial sector not willing to be quoted said the State Bank of Pakistan (SBP) is currently burdened with arranging $1.8 billion for repayment of a Chinese loan due in March. “The Ministry of Finance has yet not provided local currency equivalent to $1.8b