Global rating agency Moody’s yesterday upgraded the outlook of Pakistan’s economy to stable from negative
In a report published by the agency on the progress of Pakistan’s economy, Moody’s said the country’s foreign exchange reserves had significantly improved and its current account deficit was also under control.
The report added that the issuance of euro bonds had given a support of $2 billion to Pakistan’s economy.
Measures taken by the Pakistani government for economic reforms have also enhanced the country’s chances of receiving the next loan tranche from the International Monetary Fund (IMF).
