Pakistan shrugs off concerns over its 2023 external financing needs

Pakistan's economy, already in turmoil, has been badly hit by devastating floods this monsoon season which are estimated to have caused over $30 billions in losses. Moody's cut Pakistan's sovereign credit rating on Oct. 6 by one notch to Caa1 from B3, citing increased government liquidity and external vulnerability risks following the floods, in a move strongly contested by the Pakistani government.

from News-Economic Times https://ift.tt/zwEHfbi