US’ S&P terms Pakistan’s long-term outlook ‘stable’ amid COVID-19

Share
WASHINGTON - The United States (US)-based rating agency; Standard and Poor’s has said that Pakistan had made progress toward consolidating its fiscal accounts during first nine months of its Extended Funding Facility program with the International Monetary Fund (IMF) and affirmed ‘B-‘long-term and ‘B’ short-term sovereign credit ratings for Pakistan.
A press release issued by S&P said the government had made solid progress toward important fiscal and economic reforms prior to the start of global coronavirus outbreak and reform momentum should return once pandemic is better contained.
The stable outlook reflects expectations that funding from IMF and other partners along with a recent improvement in Pakistan’s balance of payments position, will be sufficient for the country to meet its considerable external obligations over the next 12 months.
- Bilawal Bhutto ‘tears apart' PDM's show-cause notice to PPP09:07 PM | 11 Apr, 2021
- Iran hit by act of ‘nuclear terrorism,’ says atomic agency08:38 PM | 11 Apr, 2021
- Pakistan cricket team celebrate Fakhar Zaman’s birthday (VIDEO)08:01 PM | 11 Apr, 2021
- PAKvSA – Confident Pakistan aim for series lead over South Africa07:39 PM | 11 Apr, 2021
- Pakistan's Shah Mahmood Qureshi lands in Germany07:00 PM | 11 Apr, 2021
- Pakistani student’s documentary bags top prize at global ...03:31 PM | 11 Apr, 2021
- Jibran Nasir ties knot with Mansha Pasha in intimate ceremony03:22 PM | 11 Apr, 2021
- Katrina Kaif shares sun-kissed photos from quarantine02:05 PM | 11 Apr, 2021
- Celebrities photoshopped with their younger selves11:41 AM | 9 Apr, 2021
- Ten New IPO Billionaires in 202107:59 PM | 8 Apr, 2021
- Ramadan 2021 – Tips for busy professionals01:52 PM | 7 Apr, 2021
- Ramadan 2021 – Health tips for fasting in the holy month06:11 PM | 6 Apr, 2021