Pleased to see Pakistan’s credit outlook stable: Alice Wells

WASHINGTON: The United States diplomat Alice Wells said that she was pleased to see that Moody’s Investors Service has revised the credit outlook of Pakistan to stable.

In a tweet, Principal Deputy Assistant Secretary for South and Central Asian Affairs Alice Wells appreciated the improvement in Pakistan’s credit outlook by Moody’s.

She wrote in a tweet, “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.”

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

Earlier on Monday, Pakistan’s outlook was revised by the Moody’s Investors Services from negative to stable.

Such developments reduce external vulnerability risks, although foreign exchange reserve buffers remain low and will take time to rebuild.

The move comes after Pakistan’s relatively large economy and sturdy long-term growth potential, linked with ongoing institutional improvements that raise policy credibility and effectiveness.