Pakistan to default without IMF Package: Moody’s, an international organization that provides international financial research and suggests the credit rating of a country.
Pakistan has been facing a lot of difficulty in receiving the latest International Monetary Fund (IMF) bailout package as IMF is stressing Pakistan to comply with their strict guidelines.
Pakistan government is trying its best to ensure the implementation of all the said guidelines, however IMF is not positively replying to Pakistan’s actions.
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IMF has also warned that Pakistan is due to make payments in June and the situation after that is uncertain. It is expected that without the IMF’s bailout package, the country may default.
Moody’s Investors Service has warned that Pakistan could default without an International Monetary Fund (IMF) bailout as the country faces uncertain financing options after June, according to Bloomberg.
In an emailed response to Bloomberg, analyst Grace Lim said, “We believe that Pakistan will meet its external payments for the remainder of this fiscal year ending in June, but after that Pakistan’s financing options will remain limited.” are highly uncertain.
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The rating agency also changed Pakistan’s outlook from negative to stable, and said that the stable outlook reflects Moody’s assessment that the pressures that Pakistan faces are consistent with a Caa3 rating level.
Moody’s long-term ratings are opinions of the relative credit risk of financial obligations with an original maturity of one year or more. They address the possibility that a financial obligation will not be honored as promised.
Pakistan to Default without IMF Package: Moody’s latest predictions have revealed it.
