Tag Archives: says Moody’s

ISLAMABAD: Moody’s Investors Service on Monday termed the staff level agreement (SLA) signed by Pakistan with the International Monetary Fund (IMF) for the revival of its programme as ‘credit positive’ and hoped it would ease pressure on declining foreign exchange reserves. But the credit rating agency wondered whether the government could afford to keep raising petroleum taxes and electricity tariffs in the …

ISLAMABAD: With continuous strong growth trajectory, Pakistan’s Islamic banking industry is estimated to materially outpace conventional banking by 2026, according to Moody’s Investors Service. “Huge growth over the past decade shows no signs of slowing. The Islamic banking industry in Pakistan has grown by 24 per cent a year on average over the last decade, expanding by 30.6pc in 2021 …

ISLAMABAD: While the Pakistan Stock Exchange and the rupee made a steep recovery, Moody’s Investors Service on Monday highlighted Pakistan’s “significant uncertainty over policy continuity” and falling foreign exchange reserves. However, the New York-based credit rating agency forecast a stable outlook for Pakistani banks and estimated the country’s gross domestic product (GDP) growth rate to remain between three and four per cent. Commenting on …

ISLAMABAD: Moody’s Investor Service on Thursday warned that a no-confidence motion against Prime Minister Imran Khan would increase policy uncertainty amid rising inflation, widening current account deficit and depleting foreign exchange reserves. The New York-based credit rating agency termed the situation “a credit negative” given the associated gap in policy and decision making. “We view the no-confidence motion as credit …

KARACHI: Moody’s has placed Pakistan’s long-term B3 ratings on review for downgrade as it expects the country to request bilateral debt service relief from G-20 creditors under the recently-announced initiative causing losses to private sector creditors. Moody’s on Thursday said that suspension of debt service obligations to official creditors would be unlikely to have rating implications but the G-20 has called on private sector …