Moody's downgrades Pakistan's outlook from stable to negative
Moody's has downgraded Pakistan outlook from positive to negative.
According to the foreign news agency Moody's has described the situation of Pakistan local and foreign currency as unstable.
Moody's has downgraded Pakistan to B3 and downgraded the outlook from stable to negative.
According to Moody's, Pakistan's ranking has been downgraded due to external economic risks.
Moody's says the external economic situation is deteriorating due to inflation, the current account deficit and pressure on the currency are increasing, the economic future looks uncertain due to political risks.
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According to Moody's, the resumption of the IMF program looks uncertain, there is a cloud of uncertainty over foreign financing, Pakistan's GDP is likely to be 4.5 to 5 percent this year, the current account deficit is 3.5 to 4 percent. Percentage is likely to remain, due to the political situation, there are difficulties in implementing the IMF conditions.
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