Global credit rating agency Fitch Ratings has upgraded Pakistan’s long-term foreign currency Issuer Default Rating (IDR), moving it from ‘B-’ to ‘CCC+’, a notable improvement that signals growing international confidence in the country’s economic management.
According to the sources, Fitch also maintained a “Stable” outlook for Pakistan’s long-term foreign currency rating, suggesting expectations of continued policy consistency and economic stabilization in the near future.
In its latest report, the agency expressed confidence in Pakistan’s economic policymaking, acknowledging recent reforms and steps taken to address fiscal and external challenges. The upgrade comes amid the government’s ongoing efforts to meet fiscal targets and stabilize the economy through structural adjustments and international cooperation.
The upgrade is expected to positively impact investor sentiment and may pave the way for better access to global financial markets, helping Pakistan navigate its economic recovery path.
Fitch’s move comes as a welcome boost for the country, which has faced economic headwinds in recent years, including external debt pressures and inflationary challenges.
