The international credit-rating organisation "Standard and Poor's" improved Pakistan's long-term credit rating from B-Negative to 'B' with stable outlook.

In a report released on Monday, Standard and Poor's also lauded Pakistan's continuous improvement in governance under the current government.

In recent report released by Standard and Poor's, credit rating organisation has acknowledged improved macroeconomic stability of Pakistan economy and indicated rise in growth prospects.

Standard and Poor's revised Pakistan's upward forecasts of average annual GDP growth from 4.7 per cent to over five percent during 2016 to 2019.

"Domestic security has improved, but legacy constraints on the ratings remain.We are raising our long-term sovereign credit ratings on Pakistan to 'B' from 'B-', and affirming our 'B' short-term sovereign rating," read the report released.

Standard and Poor's also praised Pakistan's policies which has helped minimising the risk in the economy.

"The stable outlook balances the potential benefits of the government's reform efforts in bolstering Pakistan's fiscal and external buffers against the risks that the reform program stalls or domestic security deteriorates during the next 12 months," report added.

Opinion

Losing heritage
26 Oct 2021

Losing heritage

It’s not a good idea to turn Mohatta into a college.
The long impasse
Updated 25 Oct 2021

The long impasse

Management of Pakistan-India tensions is likely to remain the main focus of sporadic backchannel efforts.

Editorial

26 Oct 2021

Perfect in every way

GLORIOUS. Gratifying. Liberating. Pakistan’s thumping victory over India in their opening fixture of the T20 World...
26 Oct 2021

Balochistan CM’s exit

ON Sunday, Jam Kamal Khan Alyani’s name was added to the long list of chief ministers of Balochistan who ...
26 Oct 2021

Minister’s odd logic

THE government’s contradictions and confusion appear to have no end when it comes to dealing with the...
25 Oct 2021

Party to a vile campaign

THE PTI government’s hostility towards the media and its intolerance for dissent is well known. The target of ...
Financial crisis
Updated 25 Oct 2021

Financial crisis

DESPITE having progressed to ‘very good step’ and being ‘close to concluding the agreement’ a few days back,...
25 Oct 2021

Morals and Pemra

TIME and again, Pemra has come under fire for issuing arbitrary instructions to TV channels on matters ranging from...