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HomeEconomyFitch Ratings Upgrades Pakistan’s Rating to ‘CCC’

Fitch Ratings Upgrades Pakistan’s Rating to ‘CCC’

Fitch Ratings ne Pakistan ki Long-Term Foreign-Currency Issuer Default Rating (IDR) ko ‘CCC-‘ se ‘CCC’ tak raise kia hai. Is upgrade ka purpose Pakistan ki improved external liquidity aur funding conditions hai jo International Monetary Fund (IMF) ke saath June mein hue Staff-Level Agreement (SLA) ke result mein hasil hui hain.

IMF board ki expectations hain ke July mein SLA ka approval mil jayega, jis se other funding ke sources and policies ko parliamentary elections jo October mein hone hain, jama karne mein help milegi. Lekin, Fitch Ratings accept karta hai ke program ki implementation and country ke volatile political climate ke wajah se abhi bhi program ki implementation aur significant external financing requirements se related risks hain.

Pakistan recently measures issues like revenue collection shortfalls, energy subsidies, and market-determined exchange rate ke against inconsistent na rakhne wali policies ko solve karne ke liye step liye hain. Government ne bhi propose kiye gaye budget me amendments ki hain jisme June 2024 tak ka fiscal year shamil hai, jahan new revenue measures and spending cuts ko shamil kiya gaya hai.

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