Re: Moody put Positive Outlook for Economy & 5Banks
Well said.
According to Moody’s, the stable rating is because of the IMF loan, which has allowed for a better balance of payments. Moody’s is a ratings firm, and gauges credit worthiness of countries, so naturally, their main focus is on banks.
According to Moody’s, among the things that could affect Paksitan’s credit worthiness, one is
***Default history: At least one default event (on bonds and/or loans) has been recorded since 1983; these events occurred in 1998 and 1999.
Not sure if Moody’s is aware that the same party was in power back then. And it was Ishaq Dar’s lies(sorry joshe khitabat) and number fudging (sorry, typing errors) that led Pakistan to an abyss, and Pakistan was even penalized. Moodys has probably not caught on to the recent number play (sorry typing error)