{"id":59781,"date":"2020-01-14T15:24:37","date_gmt":"2020-01-14T10:24:37","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=59781"},"modified":"2020-01-14T15:30:04","modified_gmt":"2020-01-14T10:30:04","slug":"pakistans-b-credit-rating-remain-unchanged-fitch-ratings","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistans-b-credit-rating-remain-unchanged-fitch-ratings.html","title":{"rendered":"Pakistan\u2019s \u2018B-\u2019 credit rating to remain unchanged: Fitch Ratings"},"content":{"rendered":"<p>Islamabad: Fitch Ratings, the renowned American credit rating agency, on Monday reaffirmed that Pakistan\u2019s rating would remain at the \u2018B minus\u2019 level; despite a steady economic outlook expected in the near future due to the reforms implemented by the government over the last year, according to a news source. As per the publication, the said rating is attributed to the country\u2019s challenging external sector, weak governance indicators, weak fiscal and debt position, and a high debt-to-GDP ratio.<\/p>\n<p>Fitch acknowledged the steps taken by Pakistan\u2019s government to address these problems and implement the International Monetary Fund\u2019s (IMF) latest programme. However, the agency estimated that the country would not match its annual economic growth target of 4%. In addition, they expected that the FBR would miss the PKR 5.5 trillion tax collection target and the government wouldn\u2019t be able to meet the budget deficit target of 7.2%.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/moody-ranks-pakistans-economic-outlook-stable.html\" target=\"_blank\" rel=\"noopener noreferrer\">Moody&#8217;s ranks Pakistan&#8217;s economic outlook as &#8216;stable&#8217;<\/a><\/p>\n<p>Fitch observed that even though the <a href=\"https:\/\/www.zameen.com\/news\/imf-sets-7-new-targets-for-the-third-quarter.html\" target=\"_blank\" rel=\"noopener noreferrer\">IMF\u2019s programme<\/a> had been implemented in the country, the risk that it is executed properly remains high, due to the politically difficult aspect of the government\u2019s reform agenda. Pakistan\u2019s debt-to-GDP ratio soared to 84.8% due to the fall in its currency\u2019s value, weak fiscal position, and gradual increase in liquidity buffers, while the country\u2019s debt-to-revenue ratio rocketed to 667%, well above the \u2018B\u2019 grade median of 252%.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/boi-expects-pakistans-ease-of-doing-business-ranking-to-improve.html\" target=\"_blank\" rel=\"noopener noreferrer\">BoI expects Pakistan\u2019s \u2018Ease of Doing Business\u2019 ranking to improve<\/a><\/p>\n<p>Fitch considered that the revenue mark that the government aimed for in the fiscal year 2019-2020 was ambitious. Nonetheless, they believe that the country\u2019s revenue figures will grow in the current fiscal year due to the removal of GST exemptions and the government\u2019s determination to increase its tax base through tax-filer documentation.<\/p>\n<p>Last year in June, Fitch had given the country a credit rating of \u2018B minus\u2019 and this is the second time since then that Pakistan\u2019s rating remains unchanged, according to the global ratings agency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Fitch Ratings, the renowned American credit rating agency, on Monday reaffirmed that Pakistan\u2019s rating would remain at the \u2018B minus\u2019 level; despite a steady economic outlook expected in the near future due to the reforms implemented by the government over the last year, according to a news source. As per the publication, the said rating is attributed to the country\u2019s challenging external sector, weak governance indicators, weak fiscal and debt position, and a high debt-to-GDP ratio. Fitch acknowledged the steps taken by Pakistan\u2019s government to address these problems and implement the International Monetary Fund\u2019s (IMF) latest programme. However, the agency estimated that the country would not match its annual economic growth target of 4%. In addition, they expected that the FBR would miss the PKR 5.5 trillion tax collection target and the government wouldn\u2019t be able to meet the budget deficit target of 7.2%. Read:\u00a0Moody&#8217;s ranks Pakistan&#8217;s economic outlook as &#8216;stable&#8217; Fitch observed that even though the IMF\u2019s programme had been implemented in the country, the risk that it is executed properly remains high, due to the politically difficult aspect of the government\u2019s reform agenda. Pakistan\u2019s debt-to-GDP ratio soared to 84.8% due to the fall in its currency\u2019s value,&hellip;<\/p>\n","protected":false},"author":76,"featured_media":34938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[14978],"persona":[],"class_list":{"0":"post-59781","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-pakistans-b-credit-rating-to-remain-unchanged-fitch-ratings"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan\u2019s \u2018B-\u2019 credit rating to remain unchanged: Fitch Ratings - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Fitch Ratings, the renowned American credit rating agency, on Monday reaffirmed that Pakistan\u2019s rating would remain at the \u2018B minus\u2019 level;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistans-b-credit-rating-remain-unchanged-fitch-ratings.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan\u2019s \u2018B-\u2019 credit rating to remain unchanged: Fitch Ratings - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Fitch Ratings, the renowned American credit rating agency, on Monday reaffirmed that Pakistan\u2019s rating would remain at the \u2018B minus\u2019 level;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistans-b-credit-rating-remain-unchanged-fitch-ratings.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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