A needed upgrade

Moody’s has upgraded Pakistan’s economic outlook from negative to stable which is good news for investors, business community and traders. According to Moody’s investor service, the change in outlook is driven by expectations that the balance of payments dynamics will continue to improve which are supported by policy adjustments and currency flexibility. In addition to that, such developments will reduce external vulnerability risks, although foreign exchange reserve buffers remain low and will take time to rebuild. If the government continues to take such fiscal reforms/measures and makes prudent policies, it will be able to take the ailing economy out of crisis within a short period of time.

All the credit goes to the current government team which is making strenuous efforts to steer the country out of this economic crisis.

Khalil Ahmed Shar

Islamabad