Aurangzeb, Fitch Discuss Pakistan’s Credit Outlook
The Finance Minister highlights restored market access, sustained primary surpluses and stronger external buffers at the Bangkok meetings.
Aurangzeb and the SBP Governor brief Fitch on market access, primary surpluses and reserves in Bangkok, and ask what is needed to reach the BB category.
Finance Minister Muhammad Aurangzeb and the Governor of the State Bank of Pakistan met representatives of Fitch Ratings on the sidelines of the World Bank Group-IMF Annual Meetings in Bangkok, Thailand, to discuss Pakistan’s economic performance and sovereign credit outlook.
What the Delegation Highlighted
Restored access to international capital markets, fiscal consolidation and sustained primary surpluses.
Inflation trends, monetary policy, exchange rate stability and a contained current account deficit.
Reserve accumulation, reduced forward liabilities and stronger external buffers to withstand economic shocks.
Improving debt sustainability, declining servicing costs, longer borrowing maturities and bilateral rollover assurances.
Commitment to completing the IMF programme, implementing structural reforms and promoting export-led growth.
Rating Aspirations
Aurangzeb also discussed trade and investment engagement with the United States, and asked Fitch for its assessment of what is needed to move towards the BB rating category.
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