Pakistan a better business place than India, Moody’s stunning report.

Pakistan a better business place than India, Moody’s stunning report for Global Investors on India and Pakistan
Moody’s Investors Service – one of the three main global credit rating agencies – has upgraded the outlook for the Pakistani economy weeks after it took a contrary view of the Indian economy and downgraded the credit outlook to negative based on weakening macro-economic data. In a big relief to Imran Khan's government, investors may take a positive view towards the ailing Pakistani economy, as Moody’s Investors Service has changed country’s credit rating outlook from negative to stable.
“The change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will continue to improve, supported by policy adjustments and currency flexibility”. said the agency. “Such developments reduce external vulnerability risks, although foreign exchange reserve buffers remain low and will take time to rebuild”, it added
This is a big positive for Pakistan, as the decision may improve the foreign currency inflows into the country.
“Moody’s upgrades Pakistan’s outlook to B3 ‘Stable’ from ‘Negative’. The upgradation of outlook to ‘Stable’ is affirmation of Government's success in stabilising the country’s economy and laying a firm foundation for robust long term growth”, Abdul Hafeez Shaikh, adviser to the prime minister of Pakistan on finance and revenue, exulted after the rating upgrade.

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