Islamabad: The financial credit rating agency Moody’s has upgraded the Pakistan rating.
The agency has updated a assure rating of Pakistani rating for loans in local and foreign currency The Moody’s has upgraded senior insecure rating from C3 to C2.
The Moody’s in its statement said that Out look of Pakistan has also been raised from stable to positive.
The report shows that Pakistani economy has likeliness of improvement, the statement reads.
Pakistan capabilities are getting improved in foreign payments, statement reads further.
The Moody’s furthered that the recent loan program from the International Monetary Fund (IMF) are cause of its improvement in upgrading.
It is likely that the IMF executive board meeting will approve loan program for Pakistan, the mood’s says.
Pakistan foreign reserves are also getting improved, the Moody’s adds.
The Moody’s said that Pakistan has taken timely measures for loan program from the IMF.
