Pakistan faces risk of default without IMF bailout, says Moody's
1 year, 7 months ago

Pakistan faces risk of default without IMF bailout, says Moody's

India Today  

Pakistan faces the risk of default without an International Monetary Fund bailout, said credit rating agency Moody’s Investor Service, adding that the economically-devastated nation’s financial options beyond June are uncertain. Grace Lim, a sovereign analyst with the ratings agency in Singapore, told Bloomberg News that Pakistan will meet its external payments for the remainder of this financial year ending in June. Moody’s analyst Lim told the publication that an engagement with the IMF beyond June would support additional financing from other multilateral and bilateral partners, which could reduce Pakistan’s risk of default. Meanwhile, S&P Global Ratings said Pakistan’s gross external financing needs as a proportion of current-account receipts plus usable reserves is estimated to rise to 139.5 per cent in the fiscal year 2024 from 133 per cent in 2023.

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