*KARACHI – Successful negotiations for a new International Monetary Fundprogramme would reduce external financing risks for Pakistan, credit ratingagency Moody’s said in its “Global Emerging Markets: Outlook” report issuedon Thursday.*
The government of Pakistan has recently secured $6 billion package fromSaudi Arabia including $3bn in deferred payments on oil and $3bn to bedeposited in Central Bank, the report said.
The government is seeking all sources to avert the imminent balance ofpayment crisis, the report observed.
The central bank foreign exchange reserves have fallen to their lowestlevels in four years reaching $7.5bn, which could not meet the bill of twomonths’ imports, the report said.
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The rating agency report has kept the outlook for global emerging markets(EM) “broadly stable” but warns of risks from “higher rates, politics andtrade tensions”.
