SandP Global Upgrades Pakistan’s Long-Term Instruments Credit Rating

Islamabad: A US-based international credit rating agency, Standard and Poor’s (SandP) Global, has upgraded Pakistan’s long-term instruments credit rating to ‘B’ from ‘B Minus’. This marks a significant improvement in the country’s credit status, reflecting positive developments in various economic dimensions.

According to Radio Pakistan, the upgrade is attributed to Pakistan’s stronger institutional capacity, the sustained implementation of reforms backed by the International Monetary Fund (IMF), improved fiscal performance, and a noteworthy rebuilding of foreign exchange reserves. These factors collectively contributed to the improved credit rating, signaling a more stable economic outlook for the country.

Previously, Pakistan maintained a ‘B’ category rating from October 31, 2016, to February 3, 2019. The recent upgrade brings Pakistan’s rating status to an effectively eight-year high, a notable achievement for the nation’s economic standing.