Islamabad : Prime Minister Shehbaz Sharif has warmly welcomed the recent upgrade in Pakistan’s sovereign credit rating by Moody’s Investors Service, praising the dedication of the nation’s economic management team.
In an official statement from the Prime Minister’s Office, the rating agency’s decision to raise Pakistan’s rating from Caa2 to Caa1 was described as a positive reflection of the country’s improving economic fundamentals and sound fiscal policies. The Prime Minister reiterated the government’s resolve to build on this momentum and achieve further progress.
“The enhancement in our credit rating showcases the hard work and commitment of our economic experts,” Shehbaz Sharif remarked. “Our government remains focused on strengthening the economy and delivering tangible benefits to the people.”
According to Reuters, Moody’s cited Pakistan’s strengthened external financial position as a major factor behind the upgrade. The agency also retained a stable outlook on the country’s creditworthiness, signaling confidence that the economy is on a more secure footing moving forward.
Moody’s had kept Pakistan’s credit rating at Caa3 in the aftermath of the February 2024 general elections due to political uncertainties. Improvements in economic indicators led to an upgrade to Caa2 in August 2024, with the latest adjustment bringing the rating to Caa1.
