KARACHI: Global rating agency Moody’s has hinted that if Pakistan continued to improve economic performance, the country’s credit rating could be improved.

Reports reaching here from Washington suggested that in a meeting with Finance Minister Ishaq Dar, the rating agency had termed the issue of Eurobonds by Pakistan as a positive move.

Moody’s also noted that the country had managed to attract foreign investment on improved economic indicators and with a steady economic performance, there was the possibility of credit rating improvement.

Analysts recalled that almost two years ago in mid-July 2012, Moody’s had downgraded Pakistan’s sovereign rating to its lowest level ever, citing a worsening current account balance, foreign exchange reserves, and looming payments to the International Monetary Fund. Moody’s had downgraded Pakistan’s foreign and local currency bond ratings from B3 to Caa1, the lowest ever.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

China’s concerns
23 Jun, 2024

China’s concerns

Pakistan has no option but to neutralise militant threat to Chinese projects, as well as address its business and political stability concerns.
War drums
23 Jun, 2024

War drums

If it is foolish enough to launch another war in Lebanon, Tel Aviv will be solely responsible for setting the Middle East on fire.
Balochistan budget
23 Jun, 2024

Balochistan budget

BALOCHISTAN’S Rs955.6bn budget for the fiscal year 2024-25 makes many pledges to the poor citizens of Pakistan’s...
Another lynching
Updated 22 Jun, 2024

Another lynching

The chilling alternative to not doing anything — which appears to be the state’s preferred option — is the advent of mob rule.
Tax & representation
22 Jun, 2024

Tax & representation

THE taxation measures outlined in the budget for the incoming fiscal year have triggered a lot of concern among ...
Life of the party?
22 Jun, 2024

Life of the party?

THE launch of Awaam Pakistan, a party led by former prime minister Shahid Khaqan Abbasi and former finance minister...