Moody’s Upgrades Pakistan Rating as Sharif Improves Finances

Moody’s Investors Service upgraded Pakistan’s sovereign credit ratings for the first time since 2008, citing improving foreign-exchange reserves and the government’s economic overhaul under an IMF program.

“With the program now at its mid-point, we consider that the government has achieved significant traction in reforms,” Moody’s analyst Anushka Shah wrote in a statement on Thursday. “Continued commitment to the program would entail, amongst other goals, the government meeting deficit-reduction targets.”