ISLAMABAD — Prime Minister Muhammad Shehbaz Sharif on Monday congratulated the nation after Moody’s Ratings upgraded Pakistan’s sovereign credit rating from Caa1 to B3, describing the move as clear evidence of the country’s improving economic trajectory and growing international confidence.
In an official statement, the prime minister welcomed the rating action and credited the government’s economic team for its sustained efforts. He specifically acknowledged the contributions of Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar, Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir, Finance Minister Muhammad Aurangzeb, and all concerned ministers and officials.
Global Confidence in Economic Reforms
“The improvement in Pakistan’s credit rating is a reflection of global confidence in the government’s economic policies and reforms,” the prime minister said. He added that recognition from international financial institutions and rating agencies is a welcome development.
Sharif emphasised that Pakistan’s economy is moving towards stability, noting that the upgrade by international institutions serves as clear evidence of this progress. He reaffirmed the government’s commitment to accelerating reforms to place the economy on sustainable foundations.
Path to a Self-Sufficient Economy
The prime minister stated that the government has taken effective steps to stabilise the economy, and as a result, international institutions’ confidence in Pakistan is increasing. He underscored the broader national objective, saying, “Our goal is to make Pakistan’s economy strong, self-sufficient and sustainable.”
The upgrade by Moody’s marks a significant milestone for Pakistan, reflecting improved external liquidity conditions and a more stable macroeconomic environment amid ongoing reform efforts.
