Fitch revises Pakistan view to negative

Fitch Ratings said it revised Pakistan's outlook to negative from stable and affirmed its B- long-term foreign-currency issuer default rating.

The revision of the outlook to negative reflects significant deterioration in Pakistan's external liquidity position and financing conditions since early 2022. We assume IMF board approval of Pakistan's new staff-level agreement with the IMF, but see considerable risks to its implementation and to continued access to financing after the program’s expiry in June 2023 in a tough economic and political climate,” the agency said in a press release.

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