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Moody's gives Pakistan B3 rating, says outlook 'stable'
[DAWN] On account of strong economic growth and reduction in fiscal deficits, credit rating agency Moody's, in its annual credit analysis of Pakistain, gave the government a B3 rating with a stable outlook.B3 is considered "Highly speculative," aka "Junk." "Strong growth performance, fiscal deficit reduction and improved inflation dynamics underpin the Government of Pakistain's B3 rating with a stable outlook," says Moody's Investors Service. "Credit challenges include a relatively high general government debt burden, weak physical and social infrastructure, a fragile external payments position, and high political risk," added the report casting attention on the negative aspects. The government's very narrow revenue base weighs on debt affordability, it said and added that exports and remittance inflows have slowed and capital goods imports have risen, resulting in renewed pressure on the external account. Posted by: Fred 2017-05-09 |
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