Key Takeaways
- Finance Minister Muhammad Aurangzeb met with Moody’s to discuss further rating upgrades.
- Discussions focused on economic indicators and structural reforms to achieve a stronger rating.
- Aurangzeb highlighted progress under the IMF programme and rising foreign exchange reserves.
Finance Minister Muhammad Aurangzeb met with Moody’s during the IMF-World Bank meetings in Bangkok to discuss potential further upgrades to Pakistan’s sovereign credit rating.
The meeting, held on the sidelines of the international gatherings, aimed to explore ways to achieve a stronger rating, with the finance minister emphasizing the country’s economic progress and structural reforms.
Aurangzeb outlined efforts to replace costly short-term debt with longer-maturity financing, citing rising foreign exchange reserves and a contained current account deficit as key achievements.
During the meeting, the finance minister also sought Moody’s views on achieving a stronger rating, particularly in light of the country’s economic performance and political risk considerations.
Earlier this month, Aurangzeb had stated that Pakistan was expected to be upgraded to a ‘B+’ sovereign credit rating by the first quarter of the next fiscal year 2027-28.
The finance minister also met with Dr Abdulhamid Alkhalifa, President of the OPEC Fund for International Development, to discuss Pakistan’s economic stabilisation and progress under the IMF programme.
The discussions covered M6 motorway financing, including the approved first tranche and pending loan agreements, as well as the ML-1 railway modernisation and power transmission infrastructure projects.
Both sides agreed on the importance of faster approvals and stronger coordination to ensure timely project delivery, with the possibility of signing project agreements during the visit.
Aurangzeb expressed appreciation for the Fund’s willingness to expand trade and project financing support for Pakistan, highlighting the potential for increased international capital market access.
