Islamabad:
The Advisor of the Minister of Finance, Khurram Schehzad, said on Sunday that in a remarkable change, Pakistan has become one of the high -performance countries in terms of reducing his default risk, registering one of the strongest decreases worldwide.
According to the latest data published by Bloomberg, Pakistan stands out worldwide as the second most improved economy in terms of reduction in the risk of sovereign breach, as measured by the predetermined probability involved by CDs worldwide, he published in the social media site X.
He said that Pakistan remained in second place only for Turkey in the classification of the global emerging market (EM) in reducing the risk of breach, since the country has registered one of the most clear falls in the risk of sovereign breach worldwide in the last 15 months (from June to September 4, 25).
In particular, Pakistan is the only country in the EM sample that shows a quarterly improvement consisting during the past year, he said, added that the probability of non -compliance has decreased by about 2,200 mass basic points.
He pointed out that this marks the most acute decrease among the main EMS, ahead of South Africa (3%), the Salvador (2%).
Khurram said that, in contrast, countries such as Argentina, Egypt, Nigeria and others have seen their risks for breach. This strong decrease in the country’s risk indicates that strengthening investor confidence, backed by macroeconomic stabilization, structural reforms, timely debt service, maintaining the course with the IMF program and the actions of positive grades of S&P, Fitch and Moody’s, he added.
The advisor observed that Pakistan is constantly rebuilding the credibility of the market, highlighting as one of the most improved sovereign credit stories in the universe of the emerging market.
