US appreciates Pakistan’s outlook by Moody’s

US Official Alice Wells has appreciated improvement in Pakistan’s outlook by credit rating agency Moody’s.

Alice Wells serves as Principal Deputy Assistant Secretary for South and Central Asian Affairs

On Wednesday,  US State Department on behalf of Alice Wells said in a tweet:

Pleased to see that @MoodysInvSvc has revised Pakistan’s credit outlook to stable thanks to @FinMinistryPak’s reform efforts and IMF program. With bold economic reforms, Pakistan can boost growth, attract private capital, and expand exports. AGW

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— State_SCA (@State_SCA) December 3, 2019

The US diplomat credited the change due to the the reforms undertaken by the finance ministry.

The diplomat also appreciated the recent International Monetary Fund programme implemented by the country.

Moody’s Investors Services on Monday had revised Pakistan’s outlook from ‘Negative’ to ‘Stable’.

It announced bumping Pakistan’s outlook rating in a report and affirmed a B3 rating for the country.

It also confirmed that the economy’s future look stable as opposed to negative earlier.

The credit rating agency said it had positively revised the outlook in light of further improvement in Pakistan’s balance of payments.