Moody’s has not downgraded Pakistan’s B3 rating, ministry clarifies

The rating agency appreciates the fact that amid the COVID-19 crisis, Pakistan’s economic, financial and institutional strength has not deteriorated.

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In a statement issued on Friday, The Ministry of Finance has clarified that Moody’s Investor Service has not downgraded Pakistan’s B3 rating.

The Ministry further stated that Moody’s Investor Service only placed the current rating under review for downgrade in case the G-20 COVID-19 Debt Service Suspension Initiative (G-20 DSSI) extends to private-sector creditors.

The Ministry of Finance has also said that the review by Moody’s Investor Service acknowledges that Pakistan has not indicated any interest in extending its debt service relief request to the private sector creditors and that the country’s fundamentals remain strong and on track.

The rating agency also appreciates the fact that amid the COVID-19 crisis, Pakistan’s economic, financial and institutional strength has not deteriorated.

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    Prime Minister (22k + posts)

    Imran khan khan’s strict but necessary decisions had put Pakistan on the right track before Covid-19 struck. He lead the country well during the Pandemic as well. Specially his project “Made in Pakistan” will probably be the best thing for the future of Pakistan where we will transform into an Exporter country rather than an Importer one.

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