Moody’s puts positive outlook for Pakistan’s economy “Moody’s de

Moody’s puts positive outlook for Pakistan’s economy

“Moody’s decision to revise the outlook on Pakistan’s foreign currency rating is primarily based on a stabilisation in the country’s external liquidity position, supported by the government’s strong commitment to reforms under an ongoing programme with the International Monetary Fund,” the firm said.

Pakistan’s foreign exchange reserves increased to $9.0 billion by the end of June 2014 from a low of $2.9 billion in early February 2014.

The country benefited from a new IMF programme, bilateral assistance and government deals that included the auctioning of 3G and 4G licences. A Eurobond sale in April also raised $2 billion. (more)

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