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S&P Upgrades Pakistan’s Credit Rating to ’B-’, Dollar Bonds Rally
S&P Upgrades Pakistan’s Credit Rating to ’B-’, Dollar Bonds Rally
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BTCCSquare news:
S&P Global Ratings elevated Pakistan’s foreign-currency credit rating from 'CCC+' to 'B-', aligning it with peers like Nigeria and Egypt. The upgrade triggered a rally in the nation’s dollar bonds, reflecting improved investor confidence.
The agency cited fiscal consolidation efforts, including revenue expansion and moderated inflation, as key drivers. Prime Minister Shehbaz Sharif’s reforms—such as energy tariff hikes and IMF-backed fiscal restraint—have bolstered economic stability.
Bloomberg Economics projects Pakistan’s GDP growth to accelerate to 4.1% this fiscal year, up from 2.1% in 2023. The State Bank has cut rates by half since mid-2024, with analysts forecasting another 100-basis-point reduction by year-end.
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