Bold economic reforms, US welcome Pakistan’s efforts, Alice wells

Washington, United States of America congrats on moody’s reports of improvement in Pakistan’s credit outlook.

In a tweet shared by the State Department, Acting Assistant Secretary for South and Central Asia alice Wells added: “With bold economic reforms, Pakistan can boost growth, attract private capital, and expand exports.”

Pleased to see that @MoodysInvSvc has revised Pakistan’s credit outlook to stable thanks to @FinMinistryPak’s reform efforts and IMF program. With bold economic reforms, Pakistan can boost growth, attract private capital, and expand exports. AGW

— State_SCA (@State_SCA) December 3, 2019

New York-based credit rating agency Moody’s on Monday raised Pakistan’s economic outlook from negative to stable on the back of the country’s reforms supported by an IMF programme, but kept its credit rating unchanged at B3.

The ratings firm said improvements in the balance of payments was a primary driver of the rating action, but she added more that foreign exchange buffers would still take time to rebuild.