ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif welcoming Bloomberg’s recent positive report on Pakistan’s economy said that the notable decrease in the price of Pakistan’s Credit Default Swap (CDS) reflected a consistent increase in global investors’ confidence in the country’s economy.

According to the report, there has been a significant reduction of 2,200 basis points in the default risk implied in Pakistan’s CDS.

Pakistan is now the second country among emerging economies, following Turkiye, in the global rankings, which is great news for our economy, the prime minister said adding that at the end of the previous government’s tenure, the country was on the brink of default.

He said today’s report was a crucial milestone and a reflection of the government’s journey towards progress.

“With the relentless efforts of the Government of Pakistan and the cooperation of both the Pakistani and global business communities, the promise of Pakistan’s development is now on track,” the prime minister said.

He stressed that this journey of progress will never halt.

Earlier, Bloomberg has ranked Pakistan as the world’s second-most-emerging economy, praising its steady progress and improving financial stability.

According to the latest Bloomberg report, Pakistan is the only country showing consistent economic improvement over the past 15 months. The report noted a major decline in bankruptcy risks, recording an improvement of 2,200 points in default probability.

Bloomberg highlighted that Pakistan’s continuous quarterly growth reflects sustainable economic stability. The government’s consistent policies and IMF program compliance have restored investor confidence and reduced financial risks.

The report also credited timely debt repayments and positive ratings from global agencies for boosting market trust. It stated that Pakistan has now moved beyond fears of default and is emerging as a confident, stable economy with strong investment potential.